Investing Inya Farmer, A Fintech That Lets People Put Their Money Where Their Mouth Is, Plants $1.1 Million Seed Round
Agriculture fractional investment marketplace Invest Inya Farmer (IIF) has raised $1.1 million in Seed funding to give everyone the support of the people who grow what they eat.
The round was led by Investible, alongside global agtech VC AgFunder and high net worth investors.
IIF has built a smartphone app that allows users to browse and go back through a range of share farming opportunities.
As their virtual farm grows, members can follow businesses, while farmers provide transparency about their farming practices through the app and share regular updates on their products.
IIF co-founder Nathan MacPhee
IIF founder Nathan MacPhee said that with the new capital, they will lay the technology foundation to scale both sides of their market.
“Each of us depends on agriculture and food supply every day, and our world-first investment in agriculture enables ordinary people to invest in industry. IIF’s vision is to put a farm in every pocket,” he said.
The fintech startup has established part-farming programs across a wide range of agricultural sectors, including wheat in NSW, apricots in Cobram, shiraz wine grapes in VIC, angus oxen in Tasmania, as well as beehives and oysters in several states.
“A dozen oysters, honey, apricots, ginger, beef. This is not a shopping list. It’s an investment portfolio,” MacPhee said.
“IIF has already created hundreds of new farmers in the city and this is just the beginning. It’s an exciting time to be part of the journey as we leverage our fundamentals to scale exponentially, and we’re excited to have Investible on board.”
The value of Australia’s agriculture has grown 59% over the last 20 years to reach $90 billion by 2022. But according to the Australian National Farmers’ Federation 2030 Roadmap, the sector faces a capital shortfall of more than $159.5 billion based on current growth trajectory. .
MacPhe said IIF gives farmers direct access to consumer capital to improve cash flow, reduce production risk and foster a unique connection with consumers.
Investible Principal Jayden Basha said the platform taps into a market of people seeking a stronger connection to what they eat.
“IIF is an innovative solution that solves a real pain point for farmers, while also helping to educate consumers,” he said.
“By directly supporting farmers with the benefit of tangible returns, it’s profit with a purpose.”
