Weekly Memo: iFarmer Co-founder and CEO Fahad Ifaz on Growth, Strategy, and Priorities for 2021

Mar 9, 2021

In this excellent conversation with Future Startup’s Ruhul Kader, iFarmer co-founder and CEO, Fahad Ifaz, shares about the latest developments at the leading agri-tech company post our conversation about a year ago and its recent funding round.

We cover iFarmer’s growth, evolving operation and business model, expansion, strategic ambition, and growth plans and priorities for 2021.

Future Startup

It has already been a year since we last spoke. At the time, you had around 1200 farmers to whom you facilitated around BDT 4 crore in farm investment in about 11 months from a few hundred investors. A lot has happened in the last year. A once-in-a-hundred-year pandemic. You have raised a new round of investment.  Where are you now regarding those numbers? Could you give us an overview of a sort?

Fahad Ifaz

The number of farmers we work with has increased significantly in the last year. Till December 2020, we have about 8000 farmers who work with us. We've facilitated $4.2 million in farm investment which is equivalent to tk. 34-35 crore. 

Future Startup

That is remarkable growth. More so if you take the disruption by the coronavirus pandemic into account. What are some of the things that have contributed to that growth?

Fahad Ifaz

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Ruhul Kader is a technology and business analyst based in Dhaka, Bangladesh. He is also the co-founder and CEO of Future Startup and author of Rethinking Failure: A short guide to living an entrepreneurial life. He writes about internet business, strategy, technology, technology policy, and society. He can be reached at ruhul@futurestartup.com

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