The startup was founded in 2018 by David Duarte and Carlos Zubieta as a response to one of the biggest problems faced by small and medium-sized farmers: The difficult access to financing for investing in their crops.
Agrapp scouts agricultural projects in many regions of Colombia, such as Santander, Cundinamarca, Boyacá, Antioquia and the Coffee Axis. The projects are then uploaded to its website, where investors can learn more about them and invest. The minimum investment amount is COP $1M (USD $225). Investors are able to have annual returns of up to 22%. In addition to making the connection between the investor and the farmer, this company supports the farmers during the commercialization of the crops.
“Our purpose is to be the financial engine of the agricultural sector, connecting all the aspects that exist in the commercialization of crops. When someone invests in Agrapp, our relationship with them lasts until the last stage of the crop.” Carlos Zubieta, Co-founder of Agrapp
Until now, Agrapp has financed more than 100 projects, which correspond to approximately 980 transactions worth USD $1M in total. According to Zubieta, the goal for 2022 is to have at least 180 new projects and finance USD $3M.