Description
Shamba Records is a distributed ledger that runs on blockchain technology and uses big data and artificial intelligence to collect farmer’s data and process their payments. It provides smallholder farmers with a farm management tool that connects them to aggregation centres, banks, insurance companies and marketplaces. Through its digital platform, the company automates payments, credit scoring, credit issuance, livestock insurance and agriculture extension services
Market Opportunity/ Problem
Only 4% of smallholder farmers currently have access to credit making it difficult for them to purchase seedlings and livestock. On average, a high milk production operation costs above US$1,000 and many farmers are unable to obtain capital to participate in this space. This is largely on account of a lack of records necessary to perform credit rating for smallholder farmers. Shamba records is digitizing the process of collecting farmer data and uses this to assign a credit score that allows them to access credit
Company Information
Years of operation
4
Type of organization
Private company
Stage of the business
Growth stage
Agribusiness focus
Enabling (Digital agriculture/aggregation platforms)
Agriculture value chain(s) focus?
Cash Crops
Primary country of operation
Kenya
Other country(ies) of operation
Uganda
How many employees does your business have?
11
Does the business have more than 30% women ownership?
Yes
Does the business have more than 30% youth ownership (under 35 years)?
Yes
Financing and expansion overview
How much capital is the company currently fundraising (US$)?
>1m
What is the split between equity and debt?
80% Equity and 20% Debt