AfricInvest, through its Cathay AfricInvest Innovation Fund (CAIF), has led a R200m funding round for Nile.ag, an agricultural technology platform, with a co-investment from FMO, the Dutch entrepreneurial development bank, as well as renewed support from existing investor, Platform Investment Partners. 

Henry Rahmann, Investment Officer, AfricInvest, said: “We firmly believe Nile is transforming fresh produce trading in South Africa, empowering farmers by addressing their full range of needs—from inputs and trading to financing. We're proud to back Nile’s exceptional team, alongside FMO, as they build an AgTech champion in South Africa and beyond.”

Nile was founded by Louis de Kock (ex-Amazon), Eugene Roodt (ex-JP Morgan) and Rick Kleynhans (ex-Luno) with the aim of improving the livelihoods of farmers by enabling them to trade and transact digitally.  

Since its launch in 2021, Nile has experienced remarkable growth, with farmers trading 225,000 tonnes of produce through its online marketplace last year alone. These volumes are expected to more than double over the next 12 months as more farmers embrace digital solutions to reduce transaction costs and increase transparency.

Nile offers agricultural supplies, financing, and data services all under one platform. Farmers can seamlessly manage their entire agricultural cycle – from ordering seeds and fertilizer for planting to procuring packaging materials post-harvest – with financing enabled through Nile's banking partnerships. 

The platform's integrated approach allows farmers to sell their harvested crops through Nile's marketplace to local and international buyers, guided by comprehensive data services, with the option to receive instant payment upon delivery.
 
Commercial buyers are increasingly moving away from traditional government-owned fresh produce markets, turning instead to Nile's online marketplace as a one-stop solution for sourcing over 100 categories of fresh produce directly from farmers. This direct connection to farmers not only reduces food waste, but also lowers transaction fees and ensures fresh, high-quality produce. Streamlined logistics and regional fulfilment centres - including cold chain solutions, are helping Nile tackle post-harvest losses and bolster food security across Africa.  Nile has recently expanded its reach to buyers in the Middle East and Southeast Asia, providing farmers with unprecedented access to global markets.
 
The new funding will accelerate Nile's growth across Southern Africa by expanding its agricultural inputs marketplace and launching innovative financing solutions in partnership with leading banks — enhancing farmer access to markets, tools, and capital.
 
De Kock said: “We have been surprised by how quickly farmers have embraced our digital way of trading.  Having built critical mass, we now have the unique opportunity to use the new funding to build a comprehensive digital ecosystem that provides significantly more value and reduces the risks to farmers.”

Marius Birkenhager, Investment Officer, FMO, added: ”The Nile team has proven able to build a very strong proposition for South African farmers, improving their way of doing business and hence strengthening the agricultural value chain. The aim to boost the efficiency of this sector by enabling digital trade aligns very well with the mission of FMO’s Ventures Program, and we are proud to support them in their next phase of growth.”