Freshbag, a Cameroonian agri-tech startup, has secured an undisclosed investment from GreenTec Capital Partners, a German investor into African start-ups and SMEs.
Freshbag is an innovative digital Cameroon platform that connects farmers and vendors to ensure a fair and reliable food supply network. The company works hand in hand with agricultural cooperatives to facilitate the collection of crops and their transport to urban centers for distribution to help them improve their incomes and reduce post-harvest losses.
Freshbag leverages on its network and in-depth experience in the industry, to buy produce from farmers and suppliers at fair market prices and dispatches the products to thousands of street vendors in cities across Cameroon. To further strengthen the ecosystem, Freshbag is offering micro loans and technical assistance to partner farmers, distributors, and vendors.
Freshbag is currently operating in Yaoundé, working with more than 700 vendors and 2000 farmers in the area.
Xavier Chapel, Senior Company Builder at GreenTec Capital Partners said “Investing in Freshbag is straightforward for GreenTec Capital. Brice and his team succeeded in creating their platform and the ecosystem in a few months, bringing real added value for agriculture cooperatives and street vendors in Yaoundé. With our support we believe Freshbag will boost its presence in Cameroon and in western Africa.”
Brice, CEO of Freshbag said “We are of course pretty excited. Thanks to Greentec Partnership, we now have a real opportunity to go into growth mode, scale our operations and ultimately create a bigger impact for the millions of street vendors across Africa. A dream now closer to become a reality”
GreenTec has invested in quite a number of African startups this year including Pricepally, a Nigerian e-commerce platform; Ghana’s retail-tech startup Sumundi; Coliba, a waste management startup based in Ivory Coast; Kenya’s e-logistics startup Amitruck and Kwiks, an innovative Moroccan digital platform that specializes in rapid personnel sourcing.
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