About
LenddoEFL’s mission is to provide 1 billion people fast and convenient access access to low cost, powerful financial products. They use AI, advanced analytics and behavioural data helping serve the underbanked people and small businesses in emerging markets.
LenddoEFL use new, alternative sources of data, such as psychometric assessments, mobile phone data, digital footprints and more. These can be used in place of traditional financial history to understand credit risk and identity verification.
Capability and features
LenddoEFL offers businesses a Software As A Service (SaaS) packages, improving the way financial institutions perform credit scoring and borrower verification. LenddoEFL integrate their API/button into their client’s applications, allowing them to on-board new borrowers and gather information. Thanks to LenndoEFL’s feature library, clients report increases f in portfolio size while maintaining risk levels, decreases in default without decreasing approvals, and a increases productivity due to efficiency gains and reduction in turnaround time. All of this adds up to significant return on investment, with ROI upwards of 1300% in some cases.
Progress to date
Lenddo have been recognised as one of Fast Company’s World’s Most Innovative Companies in Finance 2018, were the Grand Prize Winners at the 2017 MIT Financial Inclusion Challenge, and are a World Economic Forum Technology Pioneer.
LenddoEFL have worked with over 50 leading financial institutions across 20 emerging markets and helped more than seven million people get access to financial services.
Lenddo have assisted over 5,000 farmers, and partner with FICO to reach emerging markets such as Russia, Turkey and India.
About
TaniFund is a crowdfunding platform for agricultural activities in Indonesia. TaniFund connects farmers with alternative financing from the broader public. Individuals and/or entities can choose to invest their fund into a cultivation project of their preference. TaniFund’s innovation is a solution for the unbankable smallholders farmers and, at the same time, benefits those with excessive funds with a profitable investment option.
Capability and features
TaniFund’s projects are exclusively for groups of farmers, not individuals. This approach allocates the responsibility to the group in keeping their farmer members in check (i.e. in microfinance, in repayment, whilst in TaniFund’s scheme, in ensuring levels of production).
Funds gathered from the public are not disbursed lump sum at the beginning of the project, unlike most banks and financial institutions, but weekly, according to the farmers needs. These amounts are calculated at the beginning—which then will be included in the prospectus—involving both the farmers and TaniFund’s team, before the project is even posted in TaniFund’s website. One uniqueness of TaniFund is that in this calculation, labor cost of the farmers are included so as to ensure that the farmers have a steady income, to cover their household expenditures.
The project period is designed as to provide more than one harvest, to anticipate any force majeures that can resulted in harvest failure. This is to keep the accountability in ensuring public’s funds invested in TaniFund’s projects. In the anticipation against agriculture practices that are prone to force majeures, is the diversification of projects’ location, so if half a hectare suffers a pest invasion, there is still half that can produce harvests.
The harvest produced from TaniFund projects is absorbed entirely by the marketplace TaniHub, and priced in accordance to TaniHub’s quality standard. This is a mitigation against price volatility in the market in the future (prices are agreed upon during the making of prospectus).
Progress to date
TaniFund has managed to crowdfund USD 1.5 million, distributed to 35 projects. TaniFund is the first winner of Mandiri Finspire and has crowdfunded over USD140,000 in less than 18 hours.
TaniFund has worked with over 855 farmers, and has partnerships with International Finance Corporation (IFC) and several Indonesian banks – channeling their loans to smallholder farmers.
TaniFund is working to incorporate climate smart practice into the projects, as to encourage resilience and climate adaptive practice in Indonesian agriculture landscape.
About
Farmforce is a cloud-hosted web and mobile platform enabling transparency and digital management in the first mile of agricultural value chains. Launched in Nairobi, Kenya in 2012, Farmforce supports companies and organizations to understand where their products originate and how they were grown. Clients manage their strategic sourcing partnerships with smallholder farmers to alleviate pain points and drive supply chain sustainability.
Capability and features
Farmforce provides digital traceability in procurement from over 250,000 smallholder farmers along 30+ agricultural supply chains. This mobile technology solution replaces existing paper-based processes and thereby provide traceability to the field level. This visibility provides actionable information for management while providing transparency and document compliance with any food and sustainability standards (Global G.A.P., Rainforest Alliance, Organic, FSMA) to simplify audits.
Progress to date
Farmforce has been used by over 500,000 farmers across 25 countries. It has successfully deployed a barcode based traceability to over 25,000 cocoa farmers, and is available in 14 languages.
The team are currently working on a diagnostic system for plant diseases and partial automation of certification auditing.
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