Tarfin
Marketplace with agricultural inputs with payment terms extending until harvest time
Description
Tarfin is an online marketplace and mobile app for farmers to purchase feed, seeds, fertilizer, and equipment, with the option to pay them after the harvest. The platform offers farmers access to bank credit for purchasing agricultural inputs, providing the chance to pay at harvest. Tarfin allows farmers to find the closest partner stores and collection points that offer the necessary inputs, compare prices and instantly apply for financing. The farmers can then head to the physical store, sign a promissory note and walk away with the products.
Technology
Tarfin is an online marketplace and mobile app (Tarfin Mobil) that empowers farmers to compare the current prices of fertilizers, feed, and other agricultural inputs from vendors in close proximity. The mobile app can be downloaded via Google Play and Apple Store. Employing proprietary machine learning-based agricultural risk scoring models, Tarfin Mobil ensures competitive pricing for these inputs, granting farmers the flexibility to pay at harvest. The company developed these risk scoring models using advanced machine learning algorithms, drawing from four years of internal repayment performance data. These models leverage both traditional data and exclusive alternative data related to the farmer and the transaction. With a vast network of over 300 retailers across Turkey, coupled with the mobile app, Tarfin enables farmers to conveniently access farm inputs with extended payment terms, without the need for collateral, and offers instant approval.
Target
The main users of Tarfin are farmers purchasing agricultural inputs and retailers selling the products (feed, seeds, fertilizer, and equipment). The company claims to serve approximately 58 000 farmers and maintain a network of 1 200 retailers (as of November 2023).
Business model
No detailed information has been disclosed as regards the cost of selling and purchasing the products via Tarfin. Downloading and accessing the mobile app is free of charge.
Impact
The comparability of agri-input prices and features enable the reduction of information asymmetries among market actors, such as farmers, retailers, and producers of agri-inputs. Competitive input prices and flexible payment terms could allow the farmers to pay at harvest and potentially ease financial burdens. Tarfin's extended payment options and the absence of collateral requirements enhance accessibility for a broader range of agricultural producers. With a vast retailer network in Turkey and Romania, farmers can benefit from a wide selection of inputs, possibly enhancing their choices and overall agricultural productivity.
Partners
Quona Capital;Yara Growth Ventures;Elevator Ventures;Syngenta Group Ventures;Collective Spark Fund;Wamda;
Four Betters
Better production
