Hello Tractor, an African-focused agritech company that connects tractor owners to smallholder farmers in need of tractor services, has been selected for Mastercard’s Start Path Program. The startup will be joined by 10 other startups from around the world.
Hello Tractor is revolutionizing mechanization services across emerging markets by bringing together tractor owners and smallholder farmers through Internet of Things technology and allowing farmers to access affordable tractor services, plant on time and increase yields.
The startup founded in 2014 by Jehiel Oliver has over the years emerged as the leading provider of technology solutions designed for the tractor services market, capturing 75% of private commercial tractor inflows to Nigeria, expanding to a total of 16 markets across the continent as well as reaching well over 500,000 smallholder farmers.
Reacting to being selected to join Mastercard’s Start Path Program, Hello Tractor said on Twitter: “ We’re thrilled for the opportunity to be a part of this! By partnering with MasterCard SmartPath we have the opportunity to unlock additional value for our farmers by expanding their access to banking and payments infrastructure.“
“With the dramatic shift towards digital payments, the rise of open banking and the growth of blockchain and cryptocurrencies, there’s never been a more exciting time to be an innovator in fintech,” said Ken Moore, Executive Vice President and Head of Mastercard Labs. “Mastercard is thrilled to partner with some of the world’s most innovative startups to transform the future of commerce.”
Mastercard Start Path gives a robust group, progressive know-how, and deep expertise to help later-stage startups develop their corporations and scale sustainably.
Since 2014, Mastercard has invited higher than 230 later-stage startups worldwide to participate in its six-month digital program, providing technical steering, operational help, and industrial engagements contained in the Mastercard ecosystem.
Start Path evaluates higher than 1,500 functions yearly and selects roughly 40 startups that provide in all probability essentially the most promising utilized sciences and show a readiness to scale. Startups on this rising group have gone on to spice up $2.7 billion in post-program capital and collaborate with Mastercard, predominant banks, retailers, and totally different high-profile organizations.
