Empowering small-scale farmers across Africa just got a major boost, as Kenyan agri-fintech startup Apollo Agriculture secures a $10 million investment from Swedfund and ImpactConnect. This strategic partnership unlocks accelerated expansion plans, promising increased profitability, sustainable practices, and enhanced food security for farmers across the continent.
Apollo Agriculture, known for its innovative platform offering machine learning-based credit models, automated operations, and access to essential farm inputs and digital advice, has already reached over 350,000 farmers in Kenya and Zambia. The new investment will fuel its expansion within Kenya, empowering an additional 400,000 farmers during the loan’s term.
“This collaboration with Swedfund and ImpactConnect is a significant milestone for Apollo Agriculture,” said Eli Pollak, CEO of Apollo Agriculture. “The investment positions us to rapidly scale our operations, enabling more farmers to access the essential products and financial services they need to feed their families and communities and adapt to climate change.”
Beyond immediate financial benefits, Apollo Agriculture prioritizes sustainable farming practices. By equipping farmers with the knowledge and resources to adapt to climate change, the company contributes to long-term food security for the continent.
“This funding unlocks the potential to serve 400,000 additional farmers during the loan’s term, accelerating Apollo’s growth. We are grateful for the trust and confidence that both Swedfund and ImpactConnect have placed in our vision, and we look forward to achieving transformative growth together.” Eli added.
Swedfund, the Swedish development finance institution, and ImpactConnect, a Team Europe partner, join a growing network of investors backing Apollo Agriculture’s vision. Their combined expertise and resources will further propel the company’s impact across Africa.