Funding of $11.3 million granted to fuel agricultural technology advancement and financial inclusion in Southern Africa, secured by Nile.
South African agri-tech startup Nile has secured a significant investment of ZAR200 million (US$11.3 million) in a funding round led by the Cathay AfricInvest Innovation Fund. This investment will propel Nile's growth across Southern Africa, transforming the region's agricultural landscape.
The Cathay AfricInvest Innovation Fund, an investor driving expansion and innovation in Nile’s digital ecosystem for farmers, spearheaded the round. Other major investors include FMO, the Dutch entrepreneurial development bank, Platform Investment Partners, an early supporter, and AfricInvest.
This funding will be used to scale Nile's digital marketplace for agricultural inputs across Southern Africa. The platform equips farmers with tools for price transparency, product quality control, accelerated payment processes, and traceability. By addressing long-standing obstacles in the agricultural sector, Nile aims to reduce food waste and enable farmers to trade more efficiently and profitably.
The goal is to foster a more inclusive and efficient agricultural ecosystem, benefiting both smallholders and commercial operators. With the new funding, Nile plans to build innovative financing products alongside partner banks to expand credit access and financial tools for farmers.
Louis de Kock, co-founder of Nile, stated that the platform has experienced strong adoption due to farmer engagement. He also emphasised that the digital platform offers greater value and reduces risk for farmers.
Henry Rahmann, investment officer at AfricInvest, commended Nile for reshaping South Africa's fresh produce market and tackling challenges across the agricultural value chain. He expressed AfricInvest's pride in supporting Nile's outstanding team as they build an agri-tech leader that uplifts farming communities across South Africa and the broader region.
FMO, as a development bank, co-invested in the latest funding round alongside AfricInvest, providing significant backing with a focus on entrepreneurial development and financial inclusion in agriculture. Platform Investment Partners continues to provide ongoing financial support, helping Nile scale its operations and digital marketplace for agricultural inputs, as well as launch new financial services for farmers.
With this investment, Nile is positioned to transition into a broader agri-tech ecosystem beyond transactions with critical mass achieved. The company, backed by committed investors and with a focused growth strategy, is poised to play a central role in shaping Africa's agri-tech future.
The Cathay AfricInvest Innovation Fund, as an investor driving expansion and innovation within Nile's digital ecosystem for farmers, led the funding round that includes FMO, Platform Investment Partners, and AfricInvest. This round of funding will be used to scale Nile's digital marketplace for agricultural inputs, providing farmers with tools for price transparency, product quality control, accelerated payment processes, and traceability, aiming to reduce food waste and enable more efficient and profitable trading.
