WeFarm seeking investment – Series A is open!
43,000 farmers using our service. Over 100,000 unique answers given. 5,600,000 interactions processed.
Now, we are seeking £2.3 million in investment.
Today, WeFarm is announcing the long-awaited opening of our Series A funding round. We are seeking £2.3m in investment in exchange for equity. This investment will enable us to fundamentally change the way half the world’s population access and share information.
Over the next few years WeFarm will support 100 million farmers to improve their livelihoods… and we’re going to do it by using their knowledge and ideas. The data created by these conversations has the power to change millions more lives around the world, create a highly profitable business model and help the planet develop sustainable food supply chains.
We have a robust business plan and financial model that projects an £8m profitability by 2018 and substantial return on investment.
Not only are we a social enterprise aiming to improve the lives of millions of farmers, but we are also a social enterprise that generates revenue and in doing so, enable us to reach even more farmers.
We currently offer two commercial products. With numerous paid commercial deals already in action, we have proved the viability of the model.
A data, insight and sustainability product that provides actionable information to businesses and NGOs.
The small-scale farmers that use WeFarm form the vast majority of the world’s supply chain including most of the food consumed on earth, as well as products like cotton.
The problems and issues they have on the farm cost businesses billions every year in lost production and changed orders. WeFarm can map and analyse all of the millions of interactions happening on the system to provide actionable data reports.
Based on this insight, companies can:
- Improve supply chain management and security
- Evaluate key trends and challenges
- Increase sustainability and transparency
WeFarm also works with NGOs to provide Insight. The data set can help NGOs track social issues among the farmers they work with, and tailor their training and programmes based on an actual real time analysis of ‘need’ from the ground.
Links knowledge requests to sales through targeted advertising to difficult to reach markets, and a platform to reach remote parts of the supply chain.
WeFarm users often ask questions such as ‘Where can I purchase high quality passion fruit seedlings?’ or ‘I need to find a supplier of organic fertilizer in my area?’ and WeFarm can offer selected local and national businesses with products for farmers targeted marketing opportunities.
As an addition to WeFarm Insight, corporate clients and NGOs can also use Reach to:
- Share target training information based on real data
- Share best practices from successful farmers across the supply chain
- Be a thought leader by facilitating conversations between farmers, suppliers and consumers
The B2C future…
WeFarm is currently completely free for farmers to use and we intend it to stay this way. However, in the future, we will move more towards a B2C model, offering our farmers affordable value-add services such as market information, weather reports, and other useful information. With millions of farmers using WeFarm to access information, even 20p add-on subscriptions will become a huge source of revenue for us.
So do you know social impact investors or leading VCs that might be interested in our compelling growth? Get in touch if you do!
We will keep you posted on how our search for investment progresses…
Posted 18 January 2016 |