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.
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?
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.
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?