Photo - WeGro Technologies Limited
54952

WeGro Technologies Limited

Bangladesh
Market: Internet and IT, Farming, Financial services
Stage of the project: Operating business

Date of last change: 13.01.2022
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Idea

WeGro is a tech platform that helps underemployed farmers, under-utilized land, & financiers to produce food & sustainable income. The online platform connects farmers, landowners, financiers & buyers

Current Status

Funds Arranged: $ 350, 941
Projects Completed: 4
Projects Operational: 9
Farmers Engaged: 50
Individual Financiers: 54
Web Platform: Live
Mobile Application December 2021

Problem or Opportunity

60% (9.9 Million) of Bangladeshi farmers have no access to formal finance and hence pursue finance from informal sources at interest rates up to 40%. Moreover, the tenure of the financing are often not designed for the agri projects.

Solution (product or service)

WeGro is a tech platform that connects individual/institutional financiers to finance agricultural projects and get a share of the profit at the end of the tenure. It enables farmers to receive timely financing at convenience and enable financiers to receive profit up to 24%.

Business model

WeGro has 2 types of projects:
Harvesting Projects
Trade Projects

For harvesting/rearing project, the total profit of the entire project is to be calculated. The financier receives 45%, farmer receives 45% and WeGro receives 10%.

For trade project, a ROI is shared prior to the project based on previous profitability and expected market scenario.

Incubation/Acceleration programs accomplishment

Winner, Idea Competition (a2i Programme)
Semi Finalist, GIST Programme
Semi Finalist, Seed Star FTxSDG Challenge (Ongoing)
Incubation Participant, Bridge for Impact
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