BLOOM AND GROW

Crowdyvest About a week ago, Farmcrowdy announced that we they had launched a new crowd-funding business called Crowdyvest. Crowdyvest is a morphed version of Farmcrowdy which enables customers to invest in other sectors of the economy (technology, finance and transportation) in addition to agriculture.  Well, the first investment on crowdyvest.com (a beef processing project selling at 60,000 Naira per unit with returns of 14% for a 6 month tenure) went live last Tuesday, the 6th of August. Here are some things to consider before deciding to invest with them.  Founder Onyeka Akumah 1. The founder .  Crowdyvest's founder, Onyeka Akumah, seems passionate about making agriculture work effectively and efficiently in Nigeria. He's also the founder of the online forum (agricsquare) for discussions regarding agriculture. Before Farmcrowdy, he had worked with Deloitte, Jumia, British council, Konga and so on. 2. Age of business:  N...

Image: Feeddough.com Crowdfunding is not a new idea. It refers to raising funds through the public.  This financing method is fast becoming very popular in Nigeria; especially for debt financing.  Some start-up tech companies are using this same idea to finance agriculture in Nigeria (which is fantastic for our self-sustenance).  Anyway, since news broke about how  Farmcrowdy  raised $1M in seed funds, several other start-up companies have joined the bandwagon of crowd funders  helping farmers raise monies to finance their farms. However, a few of these companies (not necessarily part of the bandwagon) stand out:   Agropartnership Thrive-agric Farmcrowdy Porkmoney I use all the above mentioned platforms except for  Pork Money (their capital requirement is too high and their interests rate low. Therefore Porkmoney is not for me).   Anyway, this review is based on my own customer experience on these various pl...