Agrolend, a digital bank for the agribusiness sector, secures $ 53m in series C round funding. The round was led by Creation Investments, and Syngenta Group Ventures, with participation from Vivo Ventures, the corporate venture capital arm of Vivo, L4, the independent corporate venture capital representing B3, Norinchukin Bank, Valor Capital, Lightrock, Yara Growth Ventures, Provence Capital, SP Ventures, Barn, among others.
The company now has about $100 million in total capital thanks to this fresh round.
Furthermore, in keeping with its track record of low-risk expansion, the company has raised its capital base to about $100 million, allowing it to extend its credit offerings to cooperatives, merchants, and sectors without raising its leverage ratio.
Agrolend is an agricultural lending platform that supports farmers in purchasing inputs like seeds, crop protection, and crop nutrition. It was founded less than four years ago by entrepreneurs André Glezer (CEO), Alan Glezer (CFO), Valéria Bonadio (CCO), Leopoldo Vettor (CTO), and Carlos Fagundes (CSO).
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Agrolend disburses the funds quickly after the loan is formalised by the issue of a CPR-F (“Cédula de Produto Rural Financeira”), which is signed via the farmer’s WhatsApp. With the help of its wide network of over 150 partners, including cooperatives, shops, and industries, the company offers credit immediately at the point of sale, greatly streamlining the procedure for farmers.
The firm issues time deposits to finance loans, including money designated especially for the agricultural industry (LCAs, or “Letras de Crédito do Agronegócio”). These funds are then dispersed around the nation’s investment platforms, including XP, Itaú, BTG, Ágora, and Nu Invest.
About Agrolend
Agrolend was founded with the goal of revolutionising the Brazilian small- and medium-sized rural producer’s access to agribusiness through the provision of sustainable credit, which is essential for funding the growth of agricultural production and stimulating investment in inputs, machinery, and technology that boost productivity and profitability.
