Ricult uses data analytic tools to support the agriculture industry, providing farmers access to financial products, market information, and high-quality inputs. Services include credit profiling, advisory, and input financing.
Problem
- Limited market access: Farmers lack real-time price and market information, resulting in lower selling prices and higher procurement costs.
- Financial exclusion: Smallholder farmers–excluded from mainstream financial products due to high customer acquisition costs and lack of credit history–rely on high-interest loans from informal middlemen.
- High banking risks: Banks face high risks of defaults and high portfolio maintenance costs, making it difficult to extend credit to small farmers.
Solution
- Data-driven insights: Ricult leverages remote sensing, satellite imagery, and machine learning to gather and analyse data, delivering actionable insights for farmers.
- Enhanced financial inclusion: The company enables banks to extend loans through credit profiling, monitoring, and scoring, reducing their risks.
- Integrated services: Their technology offers farm advisory services, market information, and high-quality inputs through centralised platform that connects farmers with banks, suppliers, and crop processing mills.
Media Links
Type
Enterprise and Industrial & Manufacturing
Focus Area
Enterprise and Sustainability
Capital Raised (US$)
6M to 20M
Operational HQ
Pakistan
SECTOR
AI, Big Data & Analytics, Enterprise Data & Software, Marketplace, Mobile Platform, and SaaS
status
Current
founders
Gabriel Torres,Usman Javaid,Jonathan Stoller,Aukrit Unahalekhaka
partnered
2018
exited
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