• Turkey-based agritech Tarfin has raised $8 million in a pre-Series B bridge round of financing from Yara Growth Ventures, Quona Capital, Elevator Ventures, Syngenta Group Ventures, Collective Spark Fund and Wamda. 

• Founded in 2017 by Mehmet Memecan, combines traditional supply channels with technology and financial resources, to enable farmers to access high-quality agricultural inputs with convenient payment terms. 

• Today Tarfin provides farmers with easy access to agri-inputs through more than 800 partner agri-dealer locations in more than 70 cities. To date, the company has supplied and financed more than 80 million USD of agricultural inputs to 32,000 farmers.

• The funding will be used to strengthen Tarfin’s offerings to farmers in Turkey and fund expansion into Romania.

Press release:

Tarfin, a digital agriculture platform that offers quick and flexible financing options to farmers through a Point of Sale (POS) network, announced today it has raised USD $8 million in a Pre-Series B bridge round of financing. The round welcomed Yara Growth Ventures, the venture capital arm of Norway-based Yara, one of the world's largest fertiliser manufacturers, and saw participation from existing investors Quona Capital, Elevator Ventures (Raiffeisen Bank's venture capital fund), Syngenta Group Ventures (the venture capital fund of Syngenta Group, one of the world's leading seed and pesticide manufacturers), Collective Spark Fund and Dubai-based Wamda. The funding will be used to strengthen Tarfin’s offerings to farmers in Turkey and fund expansion into Romania.

“This investment is important proof that scale-driven value can be built through the use of technology in small-scale agriculture” said Tarfin founder and CEO Mehmet Memecan. “It will be an important driving force between reaching more farmers in Turkey and in our overseas expansion starting in Romania.”

Tarfin, founded in 2017 in Northeastern Turkey, now provides services throughout the country with its wide agri-dealer network and digital infrastructure, bringing together traditional supply channels, technology and financial resources. Farmers can compare different price alternatives on Tarfin Mobile and instantly purchase fertilizers, seeds and chemicals with convenient post-harvest payment terms. In Tarfin, farmers find both competitive prices and the speed of the digital world. 

Today Tarfin provides farmers with easy access to agri-inputs through more than 800 partner agri-dealer locations in more than 70 cities. To date, the company has supplied and financed more than 80 million USD of agricultural inputs to 32,000 farmers. 

“We believe in the power of technology and data science when it comes to better servicing the needs of farmers. We plan to use this latest USD $8 million funding in expanding our software development and data science teams, finance the launch of our Romanian operations and invest in new value-added products and services for our farmers and partner agri-dealers” said Memecan. 

“One of the things that we like about Tarfin is the critical role they play in providing farmers and agri-dealers with financing to grow their businesses,” said George Roche of Yara Growth Ventures. “By being an enabler of credit through an easy to use experience and competitive interest rates, Tarfin has tremendous potential to layer on new offerings to both agri-dealers and farmers directly.”