ImpactAlpha, August 15 – Nigeria’s Hello Tractor once manufactured its own smart tractors to support the mechanization of Africa’s small farms. It quickly pivoted to an Uber-like farm equipment leasing service.
The company now provides pay-as-you-go financing to farmers and small agri-business owners wanting to buy a tractor; tractor owners can contract out their services on Hello Tractor’s app.
U.S. tractor maker Deere & Co. has taken a minority stake in the startup as part of its strategy to boost sales in Africa.
Hello Tractor was a participant in Deere & Co.’s 2019 Startup Collaborator program. Deere & Co. partnered with the startup in 2020 and outfitted its John Deere tractors with smart devices compatible with Hello Tractor’s app.
Last year, Hello Tractor launched its pay-as-you-go financing program in partnership with Heifer International to boost tractor ownership and participation on its platform, particularly among women and youth. Heifer reupped earlier this year with a $1 million investment to expand Hello Tractor’s financing program.
