Doing good comes with great rewards. This is the philosophy that keeps Cropital – a crowdfunding platform put up by a group of Filipino millennials to help local farmers – running.
Since its launch in November 2015, Cropital has provided financial support to around 560 farmers in the Philippines, said Ms Rachel de Villa, 24, the organisation’s co-founder and chief technology officer.
“Cropital was born out of a need to support smallholder farmers by providing them with services that empower them, improve their productivity and ultimately increase their income,” she said.
The enterprise enables low-cost, sustainable agricultural investments to support farmers.
“More than the funding, Cropital also helps farmers reduce the risks in farming and improve productivity by processing crop insurance, providing a buyer, and giving training and access to technology partners,” she said.
To date, Cropital has raised US$120,000 (S$166,500) worth in investment, according to Ms de Villa. The returns for users range from 3% to 30% in under six months.
Cropital won Social Enterprise of the Year at the Philippine Rice Bowl Start-up Awards 2016.
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Source: The Straits Times, 24 June 2017