Ghana’s Complete Farmer, an end-to-end digital, agricultural marketplace that connects African farmers and global industries to competitive markets, resources, data, and each other on a single platform, has raised a US$10.4 million pre-Series A funding round to drive its expansion plans.
Founded in 2017, Complete Farmer offers two main solutions tailored to farmers and agricultural commodity buyers.
Its farmer-focused product CF Grower helps African farmers optimise their productivity, access global markets, and improve their livelihoods through precision farming tools and data-driven cultivation protocols. CF Buyer, on the other hand, serves buyers across the world by providing them with reliable and easy access to commodities grown to meet their specifications.
The US$10.4 million funding round was a mixture of equity and debt, with the equity portion co-led by the Acumen Resilient Agriculture Fund (ARAF) and Alitheia Capital via its uMunthu II Fund in partnership with Goodwell Investments. They were joined by Proparco, Newtown Partners and the VestedWorld Rising Star Fund.
Debt financing was provided by Sahel Capital’s Social Enterprise Fund for Agriculture in Africa (SEFAA), Alpha Mundi Group through its Alpha Jiri Investment Fund, and Global Social Impact Investments, to fund both CAPEX and working capital investments in support of short and long-term growth.
Complete Farmer has so far brought together over 12,000 farmers across five key regions in Ghana, and overseen the cultivation of over 30,000 acres of land, delivering commodities to Asia, Europe, and the rest of the world, as well as reducing post-harvest losses. The funding will be used to expand its impact further, driving its expansion plans, facilitating the scaling of its operations, and further enhancing its technology infrastructure.
“At Complete Farmer, we are on a mission to revolutionise Africa’s agriculture value chain, to ensure competitiveness for all stakeholders involved ” said Desmond Koney, CEO of Complete Farmer. “We are thrilled to welcome our new partner investors, who are seasoned experts in the industry and have a profound understanding of our mission which enables them make valuable contributions along our entire supply chain. It is a pleasure to have partners who share our belief in Complete Farmer’s potential impact on sustainable food production and food security in Africa and the rest of the world.”
Tamer El-Raghy, managing director of ARAF, said he was pleased to co-lead the round, having been impressed with the progress that Complete Farmer has made in facilitating access to global trade for Ghanaian farmers, as well as introducing them to new crops and sustainable farming practices.
“Our goal at ARAF is to invest and grow local enterprises that support smallholder farmers in building resilience to climate change. Complete Farmer’s technology platform and farming protocols enable farmers’ access quality inputs, agronomical support, and premium markets, resulting in improved yields and income as reported by the farmers themselves. We are therefore excited to partner with Complete Farmer over the next phase of its growth through expanding in Ghana and to other parts of the region,” he said.
Tokunboh Ishmael, managing partner at Alitheia Capital, said she was proud of Complete Farmer’s
work and the opportunity to amplify its desired outcomes of fortifying the African agricultural value chain and bolstering export prospects through this investment in Complete Farmer.
“Employing home-grown technology developed in Africa, Complete Farmer serves as a vital bridge that connects local farmers and their products with global markets and financial resources. This connectivity results in
increased incomes for farmers, elevated product quality, broader access for buyers, and an overall
enhancement of global trade dynamics,” she said.
