This archive report was first published on 8 December 2019.
On December 8, 2019, US-based impact investor Gray Matters Capital (GMC) announced a Sh25 million investment in Farmshine, a small-farm marketplace.
The funding, provided through GMC's coLABS portfolio, aims to expand Farmshine's operations and improve its mobile app.
According to Jennifer Soltis, coLABS portfolio manager, the investment will enable women farmers to access better prices for their produce through the Farmshine platform.
“Women are often excluded from the formal economy in Kenya and it is difficult for them to find better opportunities or higher paying work. The Farmshine platform provides access to completely transparent pricing information that informs all planting activities from a market-oriented approach,” Soltis said.
Farmshine founder and CEO Luca Alinovi noted that the platform is applicable to any market where small farmers lack an association to help raise volumes round the year for large companies.
As a value-add, participating farmers will benefit from extension services throughout the season, enhancing production via proper crop husbandry.
