Frequently Asked Questions:
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What is FarmFunded?
FarmFunded is an ag-tech company that manages an online crowdfunding platform that enables funders(investors) to fund the activities of available farms within the platform. The invested funds will then be channeled to farmers to enable the farmers scale-up farming operations and upon the end of the farming cycle, Funders are paid back their initial funds invested with returns(ROI) that is being stipulated on the funding information. Basically, funders see the returns accruing to them and so agree to pool their resources.
Why did you create FarmFunded?
FarmFunded is a purpose driven company that is envisioned to contribute to achieve food security which entails ensuring that food is available at all times for human consumption, accessible which encompasses economic and physical access to food, utilized i.e. it can be safely ingested to meet the physiological needs of human and food stability which refers to obtaining food at all times. We at FarmFunded are consequently upholding the value proposition to achieve food security fir Africa and financial security for Africans.
How is FarmFunded different from investing in the stock market?
Investing in FarmFunded entails investing your funds into insured farms that will be growing food for human consumption and industrial use and also growing your invested funds sustainably while investing into stock market entails trading in the stocks of companies.
What is the legality of FarmFunded?
FarmFunded is a registered company with the Corporate Affairs Commission as FarmFunded Enterprises with the Reg. No: BN2586423.
Why should I fund a farm?
1. It allows you to collaboratively work with farmers and FarmFunded to achieve food security.
2. Allows you grow your food and funds sustainably
3. Scale-up the number of farmers that will be producing food consequently resulting in food sufficiency.
4. Contribute to the reduction of the unemployable youths in the country who will be gainfully employed by farmers.
5. Have food products delivered to you at the end of the farmcycle (Terms & Conditions applies).
The Funding Process?
The process to funding farms on the platform are quite seamless.
1. You choose from whichever farm you want to fund from the farms.
2. Read up more information about the farms, decide on the units/packages of the farm to fund
3. Sign-up to fund the farms available on the platform,
4. Provide preferred and accurate information in the dashboard.
5. Proceed to make payments for the farm(s) you have decided to fund.
After funding a farm, how often do I get updates?
Usually after funding the farms, you get monthly updates to the email address adequately provided upon proving your details on the login dashboard.
Are the farms insured?
Yes, all farms presently receiving fund support from FarmFunded are being insured by leading insurance organisations such as Leadway Assurance Company Limited and the Nigerian Agricultural Insurance Corporation
What measures have you taken to de-risk my funds?
We have taken pragmatic measures to de-risk your funds, you can read up our risk mitigation policy on the ABOUT-US page.
Where does my money grow after I fund a farm?
When you fund a farm, your funds are aggregated and channeled appropriately to the farms that you have indicated interest to fund.
How do I earn returns?
Returns are earned on the farm funded upon the completion of the farming period(farmcycle), after the farm produces are being sold and funds received, initial funds with accruing returns will be paid to the investors.
What if I will like to visit the farm I have funded?
All farms funded by farmfunders can be visited but we will appreciate that you send a farm visitation mail to us 10 working days before the scheduled date as this will enable us to make adequate logistics for you to visit the farms.
How can I reach you physically?
Our Head Office is located at 23, Agodogba Avenue, Parkview Estate, Ikoyi, Lagos State.
Call 08099690030, 08064663737
Kindly do well to send us a mail using firstname.lastname@example.org if you have more information to ask.
FarmFunded is the ag-tech company that aggregates resources from the public and channel them appropriately to farmers for them to scale-up their farming operations.
Farmfunder: Farmfunder here refers to the investor who has consciously taken the decision to invest his/her funds into the farms available for funding. Farmer; refers to farmers’, farmers’ association, farmers’ co-op society, farmers’ clusters that are usually being funded by FarmFunded with aggregated funds received.
STUVESTOR Farm: The STUVESTOR Farm are unit of farms growing CASSAVA (manihot esculenta) that are being sold for N7,500. Units of the STUVESTOR (STUdent-inVESTOR) farm allows for people interested in funding the farm but with limited resources.
Farm-cycle: This refers to the period of time that the funds invested will take to accrue the promised returns and the initial investment. Returns: As a farmfunder, this is the amount of investment benefits that accrues to the investor. The returns are the assured amount that we are confident to pay our funders as rewards for funding the farm.