Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Agent of Impact Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe Log In

Ricult raises $1.85 million for alt-credit score lending to small farmers in Asia

ImpactAlpha, June 20 – The fintech startup, with offices in Philadelphia, Bangkok and Lahore, targets small farmers in Asia unable to access traditional forms of credit.

The company integrates alternative-credit risk metrics with crop and weather information to determine farmers’ creditworthiness. Rather than lending money, it lends farming inputs and couples them with data and agricultural advice to help farmers be more productive.

“The biggest reason why microfinance institutions haven’t been able to alleviate poverty in developing markets is that they only focus on one part of the problem by providing credit,” CEO Usman Javaid told AgFunderNews. “I’m a firm believer that you need to address the entire value chain.”

  • Looking ahead… Ricult raised $1.85 million from unnamed investors in advance of a planned Series A funding round next year. It plans to use the funds for expansion in Pakistan and Thailand.
  • Early support… The company secured $600,000 in early seed funding last year, including a $100,000 grant from the Gates Foundation.

You might also like...