Verqor, a fintech startup digitalizing Mexico’s agricultural sector, has raised $7.5M, led by Yara Growth Ventures. Accion Venture Lab, SP Ventures, Glocal Ventures, and Amplifica Capital also participated in the round.
The funding will enable Verqor to expand its operations in Mexico and create the largest network of partnerships of agricultural suppliers in the country.
“Mexico’s farmers play a crucial role in the global food supply chain, yet they lack access to the financial resources they need to produce high-quality crops. With this new funding, Verqor will be able to scale nationally and empower even more farmers in Mexico,” said Hugo Garduño, CEO of Verqor.
Verqor provides cashless credits to farmers to purchase essential supplies, like fertilizers, agrochemicals, and organic products. At the end of the crop cycle, farmers pay back the credit with their produce sales.