Nigerian agritech startup, Winich Farms, has secured a six-figure dollar investment in an extension round from DisrupTech Ventures, an early-stage venture capital firm focused on fintechs in the Middle East and North Africa (MENA). This move marks DisrupTech’s first foray into Sub-Saharan Africa and its second agritech investment, following its 2021 backing of Egypt’s Mozare3. The extension round comes after Winich Farms’ $3 million pre-Series A funding closed in October 2024.
According to Riches Attai, CEO and co-founder of Winich Farms, discussions with DisrupTech began two years ago but only materialised recently as the VC shifted interest towards Sub-Saharan Africa. Despite receiving several offers for additional funding after its October round, the startup held off until DisrupTech came on board, aligning with its current expansion plans involving embedded finance solutions for smallholder farmers.
The deal positions DisrupTech on Winich Farms’ board, alongside Sahel Capital, another participant in the previous funding round. Both firms bring a blend of fintech and agritech expertise to guide the startup’s growth. Winich Farms is currently scaling a finance product that allows farmers access to credit, with DisrupTech’s fintech experience expected to play a pivotal role in driving this innovation.
Winich Farms operates a tech-enabled supply chain model, connecting rural farmers directly to commercial offtakers while cutting out exploitative middlemen. It has improved its logistics with the establishment of four new fulfillment centres in Kwara, Benue, Kebbi, and Taraba states, enhancing the safety and efficiency of produce collection and delivery across the country.
With its embedded finance platform, Winich Farms has grown its card issuance to 60,000 farmers, enabling them to access digital financial services including credit and insurance. Backed by a network of agents and a data-driven infrastructure, the startup is fast consolidating its place in Nigeria’s $600 million agritech industry, competing with the likes of ThriveAgric, Farmcrowdy, Zowasel, and AgroMall.