DisrupTech Ventures Invests in Nigerian Agri-Tech Startup Winich Farms

DisrupTech Ventures Makes First International Investment in Nigerian Agri-Tech Startup Winich Farms
DisrupTech Ventures, an Egyptian investment firm focused on FinTech, has expanded its portfolio beyond Egypt with its first international investment in Winich Farms, a Nigerian agri-tech startup. This funding is part of Winich Farms' pre-Series A round.Based in Lagos, Winich Farms is dedicated to improving market access and financial inclusion for Nigeria's smallholder farmers. These farmers, who constitute roughly 80% of the country's farming population and produce about 90% of its agricultural output, often lack connections to formal markets and financial services.

Bridging Gaps and Boosting Farmer Income
Winich Farms tackles these challenges by using a digital platform to directly link farmers with buyers, such as retailers and processors. Operating in 29 of Nigeria's 36 states, the startup leverages a network of agents at collection points to gather and transport produce. Critically, it does this without owning physical infrastructure, a model that helps eliminate middlemen and significantly boosts farmers' earnings

Mohamed Okasha, Managing Partner at DisrupTech Ventures, stated that this investment reflects the firm's confidence in the growth potential of Nigeria's agri-fintech sector. He praised Winich's scalable model for addressing practical agricultural challenges and highlighted the opportunity for cross-learning between Egypt and Nigeria, given both nations' reliance on agriculture.

Empowering Farmers and Future Expansion
Attai Riches, CEO and Co-founder of Winich Farms, noted that the new partnership will fuel the company's next phase of growth. He believes DisrupTech's expertise with FinTech startups will enhance operations and support their expansion goals, which include extending services to other African markets and exploring export opportunities in regions like the Middle East and North Africa.Beyond market access, Winich Farms is actively promoting financial inclusion among farmers through digital tools. Their Winich Cards facilitate cashless transactions, helping farmers build financial histories essential for future loan access. Additionally, Winich provides direct credit and agricultural advisory services in partnership with the Kebbi Agricultural Research Development Agency (KARDA). This innovative model comes at a crucial time, as Nigeria's agriculture sector faces increasing pressure from rising input costs and interest rates, largely due to the devaluation of the Naira.