TaniGroup Secures US$10 Million in Series A Funding to Boost Expansion and Re-Imagine Agriculture in Indonesia

Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

SINGAPORE – Media_OutReach – 30 May 2019 – Agritech startup TaniGroup, which operates agriculture e-commerce TaniHub and peer-to-peer lending provider TaniFund, today announced it raised a US$10 million Series A round of financing led by Openspace Ventures with participation from Intudo Ventures, Golden Gate Ventures, and The DFS Lab.
The Series A investment will accelerate TaniGroup’s expansion of their services across Indonesia and new product development. The new round complements previous Pre-Series A investment from Alpha JWC Ventures and several angel investors in early 2018.
TaniHub has partnered with more than 25,000 local farmers and operates five regional offices and distribution hubs in Indonesia. TaniHub is a business-to- business platform that provides fresh produce sourced directly from farmers to customers. For the business-to-consumer clients, TaniHub provides a farm-to- table mobile application which allows consumers to have wider access to the farmers. TaniHub connects farmers with more than 400 small and medium enterprises (SMEs) and over 10,000 individual customers.
TaniFund provides lending for cultivation projects by farmers who may lack access to formal financial institutions. By linking with TaniHub, more clarity is provided to both borrower and lender on credit standing and terms. TaniFund is registered with the Financial Services Authority (OJK) and a member of Indonesian Fintech Lenders Association (AFPI).
Pamitra Wineka, President and Co-Founder of TaniGroup says: “The agriculture sector is the second largest contributor to Indonesia’s gross domestic product. By accessing multiple channels of demand, farmers can sell fresh produce to TaniHub, while TaniFund can help by funding the needs for cultivation. We will be rolling out more platforms which will further improve agricultural decision making,” he says.
Indonesia’s agriculture problems can be solved through technological innovation which is aligned with the Government’s goal to increase the standard of living of the farmers. TaniGroup will collaborate with the government and other stakeholders to build a deeper platform — which is key in solving issues in the Indonesia’s agriculture sector.
Ivan Arie Sustiawan, CEO and Co-Founder of TaniGroup, says: “We want to invite agriculture startups to collaborate because this landscape is still large and traditional. There are problems to address and we believe we can build a strong supply chain to deliver great value to Indonesian consumers.”
Shane Chesson, Partner at Openspace Ventures says: “TaniHub is building innovation into a massive sector, barely touched by digitization, a true Openspace. We look forward to working with the TaniHub team in creating a deeper technology platform and broader reach.” *** About TaniHub ***
TaniHubis an Indonesian B2B and B2C e-commerce platform for agriculture products which connects farmers to businesses and end-users. TaniHub was established in mid-2016 by a group of people passionate in helping Indonesian farmers who face difficulties in selling their harvests. In 2017, crowdfunding platform, TaniFund, was launched as a solution to the problem of access to financial services among local farmers.