FarmDrive is an alternative data-driven credit model that enable financial institutions to lend to smallholder farmers across Africa. This new mobile-based model produces alternative credit scores and loan products for farmers, calculated using environmental, social, and individual data. Through comprehensive agricultural risk assessments, FarmDrive seeks to bridge the gap between smallholder farmers and financial institutions (an estimated $425 billion globally). FarmDrive’s credit scoring model, based on agriculturally relevant data, gives financial institutions the tools needed to lend to bottom-of-the-pyramid smallholder farmers.
Peris Bosire and Rita Kimani, co-founders of FarmDrive, grew up in poor, rural farming communities in Kenya observing the struggle of their families to obtain critical farming inputs (e.g. certified seeds, tractors). In 2014, Bosire and Kimani founded FarmDrive in order to use their education and passion for technology to address this problem. The FarmDrive team is based in Nairobi, Kenya.