iFarmer closes six-figure investment from Falcon Network and Accelerating Asia Ventures to transform farmer livelihoods in Bangladesh

• iFarmer, a Bangladesh-based agritech platform, facilitated $3 million in investments for six thousand farmers in 2020 
• The deal marks the third Falcon Network investment in Bangladesh-based impact-driven startups in 2020  
• For Accelerating Asia, the new funds injected into iFarmer is a follow-on investment into a top-performing portfolio company

23 December 2020 | 10:00 AM (Bangladesh Standard Time) DHAKA— iFarmer, an agritech platform that connects farmers with investors in Bangladesh, has today announced the closing of a six-figure investment from Falcon Network, a Dubai-based investor in early-stage mission-driven businesses, and Accelerating Asia, an early-stage venture capital fund with a focus on pre-Series A startups in Southeast and South Asia.

Established in 2018, iFarmer is enabling individuals and institutions in Bangladesh to sponsor farmers and easily fund farming and agriculture activities. iFarmer is currently targeting the 20m+ farming households in Bangladesh that are largely unbanked and rely on informal channels for finance. iFarmer has to date facilitated $3million in farm and agriculture input financing and impacted the lives of six thousand farmers. iFarmer is a graduate of the award-winning Singapore-based accelerator, Accelerating Asia, and is supported by UNCDF Fintech Innovation Fund and Startup Bangladesh IDEA Project.

“We are super excited to be associated with Falcon Network and Accelerating Asia,” said Fahad Ifaz, Co-Founder and CEO, iFarmer. “In addition to the funding, our investors bring wide-ranging expertise in financial services and technology across emerging markets that will enable iFarmer to develop new services and accelerate our growth. We are grateful to Falcon Network and Accelerating Asia for believing in our vision to democratise the agriculture financing and supply chain by harnessing technology and a data driven approach.”