Invest Inya Farmer, a fintech that lets people put their money where their mouth is, plants $1.1M seed round
Agricultural fractional investment marketplace Invest Inya Farmer (IIF) has raised $1.1 million in seed funding to provide full support to the people who grow what they eat.
The round was led by Investible, along with global agtech VC AgFunder and high net worth investors.
IIF has built a smartphone app that allows users to browse and return to a variety of opportunities to share farming.
As their virtual farm grows, members can track businesses, while farmers provide transparency about their farming practices and share regular updates about their produce via the app.
IIF founder Nathan MacPhee said the fresh capital will see them build out the technology foundation to scale both sides of their marketplace.
“Every single one of us depends on agriculture and our food supply every single day, and our world-first approach to investing in agriculture allows ordinary people to invest in the industry. IIF’s vision is to put a farm in every pocket,” he said.
The fintech start-up has created stock farming programs in a wide range of agricultural sectors, including wheat in NSW, apricots in Cobram, shiraz grapes in VIC, angus beef steers in Tasmania, as well as beehives and oysters in several states.
“A dozen oysters, honey, apricots, ginger, beef. This is not a shopping list. It’s an investment portfolio,” MacPhee said.
“Already IIF has created hundreds of new farmers in the city, and that’s just the beginning. It’s an exciting time to be part of the journey as we leverage our foundation to scale exponentially, and we’re thrilled to have Investible on board.”
The value of Australian agriculture has grown by 59% over the past 20 years to $90 billion in 2022. But according to the Australian National Farmers’ Federation 2030 Roadmap, the sector faces a capital shortfall of more than $159.5 billion based on its current growth trajectory. .
MacPhe said the IIF gives farmers direct access to consumer-based capital to improve their cash flow, reduce production risk and create a unique connection with consumers.
Investable principal Jayden Basha said the platform taps into a market for people seeking a stronger connection with what they eat.
“IIF is an innovative solution that solves a real pain point for farmers, while helping to educate consumers along the way,” he said.
“By supporting farmers directly with the benefit of earning tangible returns, it’s profit with purpose.”