Yara Growth Ventures, Oslo, has invested in Turkish fintech Tarfin as part of a US$8 million financing. Founded in 2017, Tarfin provides financing to both agri-dealers and farmers. Tarfin reports that it has financed over 30,000 transactions for fertilizers, seeds, feedstuffs, and chemicals through its over 800 partner retail locations. It said it has facilitated farming on over 1 million acres.
Tarfin has expanded its offerings to include a mobile application for farmers to buy agriculture inputs directly from Tarfin’s mobile application. Additionally, the company is positioning for further geographic expansion.
George Roche, a Yara Growth Ventures team member, will join Tarfin’s Board of Directors as an observer. Yara Growth Ventures was the only new investor in this round of financing, joining existing investors such as Quona Capital, Elevator Ventures, Syngenta Group Ventures, and Collective Spark Fund.