Hectare Agritech, a UK-based online marketplace for the agriculture sector, has successfully secured £500,000 through its third investment round on equity crowdfunding platform Seedrs. The company launched the campaign earlier this month and is now nearing £550,000 thanks to more than 320 investors. As previously reported, Hectare was founded in 2016 and describes itself as an agritech company that’s focused on exploiting current inefficiencies and deficiencies in the family industry supply chains. The company stated:
“Hectare is a UK leading agricultural marketplace provider – disrupting out of date trading processes that haven’t changed in hundreds of years and revolutionising the way farmers do business through two online platforms, SellMyLivestock and Graindex and a dedicated funds transfer system, Farmpay.”
Jamie McInnes, CEO and Co-Founder of Hectare, recently shared::
“We’re confident we’ve reached critical mass now with an annualised listing value of over £40 million and the value of the average listing on the site having doubled to over £8,000 since launch. Crowd-funding is always a little bit scary because it’s so immediate, but we’ve almost hit half our target in the first twenty four hours and we just can’t stop refreshing the screens in the office. The investment this time round will help us scale up much faster than we’ve been able to so far and add yet more services to the platform. There’s a lot more to come yet.”
The launch of Hectare’s latest crowdfunding round comes just after the company released FarmPay, a dedicated payment platform. All funds from the campaign will be used to continue Hectare’s expansion. It is set to close later this winter.
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