Tarfin IFN gets the NBR authorization and is ready to finance the agricultural supply chain
July 12, 2022 at 9:30:00 AM
Bucharest, July 12th, 2022
Tarfin, the Turkish agri fintech launched in Romania in April this year, obtains the NBR authorization. This marks the next step in Tarfin’s mission to support farmers and suppliers of agricultural products by acting as a propeller in the supply chain.
By partnering with agri-input distributors of all sizes - from fitofarmacies to national distributors, Tarfin is set to help farmers purchase the needed inputs with the convenience of paying after harvest. Not only is their platform fully digitized, reachable through any laptop, tablet, mobile phone, but also very fast, with an approval period of less than an hour. With Tarfin farmers can access the inputs they need at accessible prices transparently, without any hidden costs.
”Considering the regional context, and the worldwide climate changes that strongly affect the farmers, Tarfin has a key role in financing the agricultural chain. This authorization is a milestone in our business and strengthens our efforts toward supporting the agriculture ecosystem”, declared Adina China-Birta, General Director of Tarfin IFN Romania.
Nowadays, agricultural inputs are harder to buy because of their price increase due to a series of factors such as supply disruptors caused by sanctions in certain countries and export restrictions, and the current geopolitical context that generates even more concern regarding fertilizer affordability. According to The World Bank, we are witnessing a record increase in input costs. From the beginning of 2022, fertilizer prices have risen nearly 30%. For this reason, it is even more important that farmers receive help to continue their business.
„We are now financing purchases for the next agricultural cycle with a maturity of up to 1 year so that farmers can easily continue their farm operations. This way, distributors can afford long payment terms and cover the needs of small and medium-sized farmers”, concludes Adina China-Birta.
Tarfin finances all types of inputs, as well as small equipment and installations. Farmers of all kinds have access to funding from Tarfin, from cereal to legume growers and animal farmers. Because cereal growers have begun the wheat harvesting, by using Tarfin they can already start preparing for the next agricultural season, as they can access funding with up to a year of maturity.
About Tarfin IFN
Tarfin was founded by Mehmet Memecan, in 2017. With the support of Quona Capital, Collective Spark Fund, Syngenta Group Ventures, Yara Growth Ventures, and Elevator Ventures - Raiffeisen Bank International as shareholders, the agri-fintech start-up has expanded its operations starting in 2022 on the Romanian market as well. The company aims to facilitate better access to finance for farmers quickly, and conveniently through its technology and wide-ranging distributor network.
Tarfin was awarded in 2021 by the Digital Money and Fintech Awards 2021 for "Fastest Growing Fintech of the Year" and won the "Best Structured Bond Product" category at the Bonds and Loans Awards in 2019.