TaniGroup raises $10M in a funding round led by Openspace Ventures
Category: #business  By Mateen Dalal  Date: 2019-05-28
  • share
  • Twitter
  • Facebook
  • LinkedIn

TaniGroup raises $10M in a funding round led by Openspace Ventures

TaniGroup runs an agriculture marketplace called TaniHub, and peer-to-peer lender named TaniFund.

Indonesia-based TaniGroup has reportedly raised $10 million in Series A funding round which was led by Openspace Ventures in the latest deal in the agri-tech sector of the country. Several other investors have also supported the funding round, including Golden Gate Ventures, the DFS Lab, a fintech accelerator backed by the Bill and Melinda Gates Foundation, and Intudo Ventures.

Reportedly, the latest funding round has followed a pre-Series A investment by Alpha JWC Ventures and various angel investors in TaniGroup, in early 2018.

For the record, TaniGroup runs an agriculture marketplace called TaniHub, and peer-to-peer lender named TaniFund.

TaniHub offers fresh produce directly from farmers to customers. Largely focused on business-to-business (B2B) transactions, the company has recently expanded to the B2C market with a farm-to-table mobile application. It has claimed that it connects farmers with over 400 small and medium enterprises (SMEs), and more than 10,000 individual customers.

Meanwhile, TaniFund offers loans for agriculture projects to farmers lacking access to formal financial institutions.

TaniGroup has reportedly stated that the latest funding will accelerate its new product development and business expansion. The company works in partnership with the regional administrations, central government, local organizations, international organizations and other agritech startups to create a deeper platform, it added.

Ivan Arie Sustiawan, CEO and Co-Founder, TaniGroup, reportedly stated that the company wants to invite other agriculture startups soon because agriculture space of Indonesia is still large and very traditional. There are huge problems to address, many farmers are still in need of help, and the chance to develop a stronger supply chain to offer great produce to Indonesians at best cost, he further added.

Reportedly, TaniFund is a member of Indonesian Fintech Lenders Association (AFPI) and registered with the Financial Services Authority (OJK).

Source credit: https://www.dealstreetasia.com/stories/tanigroup-openspace-137562/

https://e27.co/tanigroup-raises-us10m-in-series-a-funding-round-20190527/

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Mateen Dalal    

Mateen Dalal

Mateen has completed his Bachelor’s degree in electronics and telecommunication engineering, post which he lent his proficiency to the industry, working as a quality and test engineer. Drawn intricately toward the field of content creation however, Mateen soon switc...

Read More

More News By Mateen Dalal

PayPal buys Happy Returns to strengthen reverse logistics system
PayPal buys Happy Returns to strengthen reverse logistics system
By Mateen Dalal

U.S. based digital payments platform, PayPal, an online payment system entity has announced the purchase of Happy Returns- a returns solution firm that provides online buyers access to simplified ways to return unwanted merchandise to retailers; elim...

YOP officially unveils YOP app to ease access to DeFi for the masses
YOP officially unveils YOP app to ease access to DeFi for the masses
By Mateen Dalal

Yield Optimization Platform and Protocol (YOP) recently declared its official launch of YOP application; the first all-in-one mobile app which makes it quite easier for everyone to access DeFi. The V0 version of the app is now available for early acc...

Singapore to create second national supercomputer with more on roadmap
Singapore to create second national supercomputer with more on roadmap
By Mateen Dalal

Following its success of the first supercomputer system, Singapore is set to build its upcoming second supercomputer system in an attempt to strengthen the local research community, offering 8X more computing capacity than its previous model. The sy...