Kenyan startup, Tulaa, a platform for smallholder farmers to access inputs, credit, and markets in Kenya, has closed a seed round of investment of US$627,000 led by AHL Venture Partners.
Tulaa provides a simple and easy mobile money solution allowing rural smallholder farmers to borrow money to purchase the right inputs at the right time by bringing together input suppliers, financial institutions and farmers in a virtual marketplace.
“We are thrilled to have this group of investors on board,” said Hillary Miller-Wise, Founder, and CEO of Tulaa. “The consortium brings not only capital but also a terrific mix of experience and knowledge globally as well as in the Kenyan market. Combined with the team of committed and passionate people who we have been fortunate to attract, the added experience of the investors positions us extremely well for growth.”
The round, which was oversubscribed, also includes investment by Global Partnerships/Eleos Social Venture Fund, Beyond Capital, and Rafiki Ventures.
“Tulaa’s end-to-end platform will improve crop yields while driving improved sales for smallholder farmers and delivering impressive returns to investors,” said Ben Peterson, Senior Partner at AHL. “We believe Tulaa has the team and the product to achieve great results.”
Founded in July 2017 as a spin-off of Esoko, Tulaa will use the financing to fund continued expansion in Kenya and for further development of Tulaa’s technology platform.