Agri-fintech platform HelloChoice has launched a multi-wallet system aimed at improving how smallholder farmers access and manage funding, while giving lenders greater oversight of how funds are used.
The new functionality builds on the company’s existing digital wallet and marketplace, which it says has already been used to manage input procurement, funding and offtake trade for farmers.
New system links funding to production milestones
The multi-wallet structure allows farmers to manage funds in dedicated digital wallets, while funders and project managers can monitor usage through permission-based access.
Funds are released in tranches linked to verified budgets, on-site agronomist assessments and production milestones, to reduce misuse and lower lending risk.
The launch coincides with the disbursement of the first four farmer loans through a partnership with the Eastern Cape Rural Development Agency (ECRDA) and African Seeds Group (ASG) for the current summer crop season.
Focus on traceability and cost reduction
The platform records all transactions, providing funders with data on how capital is deployed. This is intended to address some of the risks associated with lending to smallholder farmers.
HelloChoice says its model also reduces input costs through aggregated procurement. Smallholder farmers often pay higher prices due to fragmented supply chains and smaller purchasing volumes.
To date, the platform has facilitated more than R12m in loans to over 30 farmers, with plans to scale to R500m over the next three years.
Partnership model targets Eastern Cape farmers
"After successfully launching impact funding through our integrated wallet and marketplace, the Multi-Wallets give smallholders easy oversight of their funds — while giving funders full transparency and accountability," says Grant Jacobs, CEO and co-founder of HelloChoice.
“It is truly inspiring to see our partnership delivering real and meaningful benefits for farmers, just as we envisioned from the outset. This milestone strengthens our commitment to making it easier for smallholder farmers to access support, reduce financial risk, and build resilient, thriving agribusinesses across the Eastern Cape.
Simpiwe Somdyala, ECRDA CEO, adds: "Through HelloChoice’s innovative solutions, our farmers are now better equipped to produce sustainably, access markets with confidence, and unlock new opportunities for growth and successful commercialisation."
"The HelloChoice platform’s reporting features deliver the efficiency and accountability our partnership requires to scale meaningful impact, and the cost-effective aggregation of quality inputs and services," says Mihan Louw, managing director of ASG.
