UfarmX uses data to assess credit for African farmers

UfarmX, founded by Alexander Zanders, builds data-driven credit infrastructure to assess African smallholder farmers for loans.

The company has credit-scored over 17,000 farmers across Nigeria, Senegal, and Liberia, facilitating more than $6.8 million in agricultural commerce.

UfarmX reports a net default rate of 1.17% on its insured lending channel, demonstrating farmer creditworthiness.

Zanders identified the financing gap after farming in Nigeria during COVID-19, where neighbors lacked access to quality inputs despite skill.

Over 90% of Africa's 600 million farmers have zero access to formal credit, representing a $100 billion financing opportunity.