In brief: Agri-focused P2P lending platform Crowde bags funding from Gree Ventures

Crowde, an Indonesian agriculture-focused P2P lending platform, closed an undisclosed amount of seed round led by Gree Ventures, and joined by Crevisse Partners as well as prominent local angels.

The startup will use the capital to accelerate the development of its platform, and support more farmers. Crowde aims to lend money to more than 100,000 farmers this year.

Source: Crowde’s press release

Crowde is focused on agriculture, livestock, and fishery projects.

“Capital, or the lack thereof, is one of the essential problems faced by farmers as they struggle to secure financing from traditional institutions,” said CEO Yohanes Sugihtononugroho in a statement.

He added, “We hope that with this additional capital, we can improve our platform, introduce more technology to better serve farmers and investors alike, and scale our operations across the country.”

To date, the startup has disbursed over US$1.97 million worth of loans to 10,000 farmers in 276 villages across Indonesia. The loans came from 24,000 lenders on its platform.

Currency converted from Indonesian rupiah. Rate: US$1 = Rp 15,162.50