Agrolend is a fintech for small and medium-sized rural producers. The company offers farmers easy, fast, and unbureaucratic credit that finances the purchase of agricultural inputs such as seeds and fertilizers.
Using technology and innovative credit analysis, Agrolend is able to provide loans without physical guarantees such as grains. Loans can be formalized 100% digitally through WhatsApp, which is how Agrolend disburses capital very quickly. The fintech’s goal is to provide a fast alternative to traditional bank credit.
The firm operates through partnerships with industries and distributors of agriculture equipment, giving farmers access to credit through a mobile-first platform.
Agrolend says its loan book is expected to reach around USD $48M (BRL 250M) by the end of 2022, which represents nearly ten-fold growth when compared to the company’s loan book value at the end of 2021.
The startup founded by brothers Alan and Andre Glezer recently raised a USD $27M Series B round led by Lightrock, with the participation of Yara International Growth Ventures, Mago Capital, and previous investors Valor Capital Group, Continental Grain Company, Provence Capital, SP Ventures, and Barn Investimentos.
With this new funding, the startup will continue expanding its credit portfolio and serving around 10,000 small and medium-sized rural producers throughout Brazil.