EntrepreneurshipInnovations

Nigerian startup, EZFarming secures $150,000 investment from 500 Startups

Nigerian agritech startup, EZFarming, has received $150,000 from San Francisco-based accelerator, 500 Startups having participated in its four-month-long programme.

Coming out of 500 Startups as the only Nigerian startup in the 25th batch, EZFarming now has extra funds at its disposal.

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EZFarming is a marketplace that helps farmers finance their business. It does this through micro-loans and ease of access to produce buyers worldwide.

For every startup that participates in 500 Startups, they get to exchange 6% equity for funding, mentorship and hands-on training. But it won’t matter much as the new funding from 500 Startups will allow EZFarming to continue innovating while also expanding its operation size.

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The fund from 500 Startups is also coming on the heels of a first-place finish at a competition hosted by Georgetown African Business Conference earlier in the year.

EZFarming is founded by Cambridge University-trained Nigerian agricultural economist, Dr Adewale Oparinde.

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Source: techpoint

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