The startup seeks to enable farmers in emerging countries earn more money through its asset management support services. It provides an Android app designed to calculate income and expenditure patterns, including timing and money amounts.
Agribuddy plans to use the proceeds to grow its team and to further develop products and advance current systems, The Bridge reported.
Agribuddy likewise caters to banks and other financial institutions to help them set proper credit limits relating to purchase of agricultural materials. It is done through Agribuddy’s own credit scoring function.
Agribuddy’s users in terms of agricultural area has yet to reach 190,000 hectares. From its debut in Cambodia, it recently gained users in Vietnam, Bangladesh, Thailand, and India.
Last June, Agribuddy won the pitch competition at the Nikkei FinTech Conference in Tokyo.