JAKARTA / SINGAPORE, Jan 14, 2022 - (ACN Newswire) - 1982 Ventures has backed PasarMIKRO, an Indonesian-based Agri Commodity Marketplace startup that empowers disadvantaged farmers by simplifying transactions for both farmers and traders.
Since their pilot in December 2020 PasarMIKRO has helped farmers to trade and finance the distribution of over 5,000 tonnes of eggs and other commodities. Image Credits: Dien Wong (Co-founder and CEO of PasarMIKRO) with customers.
PasarMIKRO'S app allows farmers and traders an easy way to manage existing trading relationships and discover new traders on the platform. Image Credits: Detik.com.
- PasarMIKRO raised funds from 1982 Ventures and prominent angels.
- PasarMIKRO is an ag-tech startup aiming to disrupt Indonesia's USD$130B agriculture market by connecting farmers and traders.
- PasarMIKRO will use the funds to expand team and to reach out to more farming communities in Indonesia.
PasarMIKRO was founded by former Altermyth co-founder Dien Wong. Since their pilot in December 2020 the company has helped farmers to trade and finance the distribution of over 5,000 tonnes of eggs and other commodities. Despite the effects of the pandemic, Indonesia's USD$130 billion agriculture market remains one of the top industries ripe for disruption.
Dien Wong states, "PasarMIKRO is looking after Indonesia's main providers, farmers and traders who are often overlooked. We are transforming the landscape for a more inclusive digital economy. We foresee that with the digitization of the ecosystem, it will enable a scalable future food value chain."
The Indonesian-based company provides various services for farmers and traders for their daily transactions such as bookkeeping, lending, and marketplace for farmers and the ecosystem to sell their products easily without limitations.
PasarMIKRO has established partnerships with Bank Rakyat Indonesia (BRI), one of Indonesia's largest banks, and Rabo Foundation, a social fund backed by European agricultural bank Rabo Bank with a mission to give smallholder farmers the prospect of a sustainable future.
Herston Elton Powers, Managing Partner of 1982 Ventures stated, "Unlike other platforms, PasarMIKRO works with the entire supply chain to enable more efficient agricultural financing and transactions. We have not seen an inclusive financing model in Southeast Asia achieve what appears to be such a product-market fit, and begin scaling as early as PasarMIKRO. PasarMIKRO is incredibly capital efficient and has seen impressive disbursement growth since day one."
Scott Krivokopich, Managing Partner of 1982 Ventures stated, "Indonesia's agriculture ecosystem is massive and long overdue for modernization. Dien's decades of experience in game development and time spent in the field with farmers is the driving force behind PasarMIKRO's impressive growth."
The funds will be used to expand PasarMIKRO's team and reach out to more farming communities in Indonesia.
For media enquiries:
PasarMIKRO is a business-to-business aggregated agriculture marketplace with integrated financing facilities. The platform aims to simplify the transaction of farmers and traders in Indonesia's agriculture market. For more information visit: https://www.pasarmikro.id.
About 1982 Ventures:
1982 Ventures is the leading seed fund investing in fintech startups in Southeast Asia. Our focus makes us the first port of call for fintech founders and the first money in. Our investments include Southeast Asian Open Banking API Platform Brick, Indonesian Personal Finance App Pina (YC W22), Indonesia's first Earned Wage Access platform Wagely, Philippine MSME book-keeping app Lista, Vietnam's leading investment platform Infina (YC S21), Vietnam's leading "Buy Now, Pay Later" Fundiin, Vietnam's Rent-to-Own Home Financing app Homebase (YC W21) and Singapore's automated financial data delivery platform Bluesheets.
1982 Ventures is investing in and supporting the best founders to positively impact the future of financial services in Southeast Asia. For more information visit: https://1982.vc.
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