Yara International: Growth Ventures invests in Agrolend – a leading Brazilian agricultural fintech
Founded by brothers Alan and Andre Glezer in 2021, Agrolend offers farmers simple, fast and bureaucracy-free credit to buy agricultural products such as seeds and fertilizers. Loans are formalized in a 100% digital way using the grower’s Whatsapp, and the capital becomes available in less than a week. Agrolend has a large network of more than 100 partners, and the credit is offered directly at the point of sale at a dealer.
Following the R$145M Series B funding round, Agrolend looks to build a profitable R$2 billion loan book with a customer base of 10,000 farmers in the coming years. The Series B round was led by Lightrock, a global private equity manager with an impact focus, as well as Suzano Holding (major pulp and paper producer), Mago Capital (investment vehicle for the founders of Locaweb in Brazil), and Yara Growth Ventures (the venture investment team of Yara International ).
“Agrolend managed to bring together investors with complementary characteristics, combining competencies such as growth capital with an impact focus, deep knowledge of the agricultural sector, global presence, among others. Furthermore, these investors have long-term commitments to invest in Brazil and are willing to invest much more in Agrolend in the following years.”, according to Andre Glezer, co-founder of Agrolend.
According to George Roche, investment director of Yara Growth Ventures, “I am delighted to have the chance to work with Glezers and the Agrolend team to help Brazilian farmers. We have seen globally that better access to finance allows farmers to do better and become more sustainable – Agrolend plays this critical role in Brazil and we look forward to their growth.”
About Agrolend
Agrolend is a financial institution that was born to revolutionize the agricultural market for small and medium-sized farmers in Brazil, by providing fast, easy and bureaucracy-free credit. The company operates through partnerships with industries and distributors of ag inputs, equipment and farm implements, and also collaborates with agtechs in technology financing. Farmers have access to credit through an electronic platform, and operations have been created and formalized in a completely digital one
environment, just by using your smartphone. Agrolend is present in more than 10 Brazilian states and in several segments such as soybeans, corn, coffee, sugar cane, fruit, livestock and dairy cows. Agrolend SCD SA is a “Sociedade de Credito Direto”, authorized by the Central Bank of Brazil, pursuant to BCB Resolution No. 4,656, dated April 26, 2018. Learn more at www.agrolend.agr.br
About Yara Growth Ventures
Yara Growth Ventures is the venture investment team in Yara International ASA that invests in disruptive startups in the agricultural industry globally to advance the mission of responsible food to the world and protect the planet. Learn more at www.yaragrowthventures.com
