The InsuResilience Investment Fund and Agritask have signed an agreement according to which the Fund will invest USD 6mn in the company’s largest financing round to date and take a seat in the Board of Directors. Agritask’s unique ‘One platform – One database’ precision agriculture offering is significantly upgrading decision-making processes across the entire agriculture eco-system. The platform is already deployed in over 15 countries serving small and large scale farmers, food producers, government extension projects and insurers, predominantly in emerging and frontier markets. The company’s offering to agriculture insurers revolutionizes their ability to perform accurate risk analysis enabling them to drastically reduce operational costs, develop and manage more advanced insurance offerings and deepen insurance penetration to new and underserved markets.
The proceeds of the investment will help Agritask to scale up its global expansion across the various agricultural segments, and to further spur development of agriculture insurance markets globally, extending its outreach to small-scale farmers.
The investment is not subject to regulatory approvals.
“We see technology as a key enabler to make climate insurance affordable for populations with low income and small-scale farmers in particular. Agritask has developed a unique offering to digitalize agriculture insurance and take risk management to a new level. The company is uniquely positioned to capture the opportunity presented by 250 million under-insured small-scale farmers in developing countries. We are thrilled to partner with and support Agritask with capital, technical assistance and our international network in the agriculture insurance space, with the objective to increase the resilience of small-scale farmers to the consequences climate change,“ says Ernesto Costa, Senior Vice-President Private Equity at BlueOrchard.
“Market penetration of agricultural insurance remains small across the globe, especially in developing countries,” says Ofir Ardon, CEO of Agritask. “To a large extent this is a result of product design which often relies on limited data availability and visibility into the ongoing agricultural and climatic risks, which is exactly what we can resolve. We are more than excited to partner with the InsuResilience Investment Fund and BlueOrchard as we see strong synergies between Agritask’s deep technological know-how and their profound knowledge and network in the financial and agricultural insurance industry.”
The investment in Agritask aligns with the vision and principles of the InsuResilience Global Partnership, which was launched at the 2017 UN Climate Conference COP23 in Bonn by Germany. The partnership’s objective is to enable more timely and reliable post-disaster response through use of climate and disaster risk finance and insurance solutions to reduce impacts and help poor and vulnerable people recover more quickly.
Agritask is an Israeli based Ag-Tech company offering a one-of-a-kind end-to-end agronomic geo-management platform that integrates any ag-data hardware & software which can benefit agronomic and agro-economic decisions. The highly comprehensive platform revolutionizes the ability of decision makers across the entire ag-eco-system to collect, access and make real use of data, significantly upgrading their agronomic visibility and real-time decision-making processes. Based on a unique system architecture, the Agritask platform is easily configured to each client-specific work-methods, eliminating clients’ need to ‘change’ nor be ‘trained’ and thus resulting in an unmatched ease, time and cost of adoption and at a significant scale. Among Agritask’s clients are some of the most prominent ag-players in LATAM using Agritask on a daily basis as their core production and operations management platform. Beyond large growers, Agritask is serving Ag-Insurance Companies, F&B Players, and Governments in Regional Extension Projects with dedicated offerings covering the visibility, monitoring and risk management needs relevant to the agriculture eco-system at large. All dedicated offerings are based on client-specific ‘configurations’ of a single platform-version deployed across all clients via the cloud. For further information, please visit: www.agritask.com.
About BlueOrchard Finance Ltd
BlueOrchard is a leading global impact investment manager. The firm is dedicated to fostering inclusive and climate-smart growth, while providing attractive returns for investors. BlueOrchard was founded in 2001, by initiative of the UN, as the world’s first commercial manager of microfinance debt investments. Today, BlueOrchard provides investors around the world with premium investment solutions, including credit, private equity, and sustainable infrastructure. Being an expert in innovative blended finance mandates, the firm is a trusted partner of leading global development finance institutions. With a major global presence and offices on four continents, BlueOrchard has invested to date more than USD 6bn across 80 emerging and frontier markets, enabling tangible social and environmental impact. BlueOrchard is a licensed Swiss asset manager of collective investment schemes authorized by FINMA. Its Luxembourg entity, BlueOrchard Asset Management S.A., is a licensed UCITS management company as well as a licensed alternative investment fund manager (AIFM) authorized by CSSF. For additional information, please visit: www.blueorchard.com.
For further information, please contact:
+41 22 596 47 69
The information in this document was produced by BlueOrchard Finance Ltd (“BOF”) to the best of its present knowledge and belief. However, all data and financial information provided is on an unaudited and “as is” basis. The opinions expressed in this document are those of BOF and its employees and are subject to change at any time without notice. BOF provides no guarantee with regard to the accuracy and completeness of the content in this document and BOF does not under any circumstance, accept liability for any losses or damages which may arise from making use of, or relying upon any information, content or opinion provided by BOF in this document. This document may contain references or links to other documents and websites and BOF has not reviewed such other documents and websites and is not responsible in any way in relation to the content of such documents and websites.
The information in this document is the sole property of BOF unless otherwise noted, and may not be reproduced in full or in part without the express prior written consent of BOF.
All investments involve risk. We note specifically that past performance is not an indication of future results. Emerging markets impact investments involve a unique and substantial level of risk that is critical to understand before engaging in any prospective relationship with BOF and its various managed funds. Investments in emerging markets, particularly those involving foreign currencies, may present significant additional risk and in all cases the risks implicated in this disclaimer include the risk of loss of invested capital.
The materials provided in this document are for informational purposes only and nothing in this document can be construed as constituting any offer to purchase any product, or a recommendation/solicitation or other inducement to buy or sell any financial instrument of any kind and shall not under any circumstances be construed as absolving any reader of this document of his/her responsibility for making an independent evaluation of the risks and potential rewards of any financial transaction. We note in particular that none of the investment products referred to in this document constitute securities registered under the Securities Act of 1933 (of the United States of America) and BOF and its managed/advised funds are materially limited in their capacity to sell any financial products of any kind in the United States. No investment product referenced in this document may be publicly offered for sale in the United States and nothing in this document shall be construed under any circumstances as a solicitation of a US Person (as defined in applicable law/regulation) to purchase any BOF investment product.
The information provided in this document is intended for review and receipt only by those persons who are qualified (in accordance with applicable legal/regulatory definitions) in their respective place of residence and/or business to view it, and the information is not intended under any circumstances to be provided to any person who is not legally eligible to receive it. Any recipient of information from this document who wishes to engage with BOF in furtherance of any transaction or any relationship whatsoever must consult his/her own tax, legal and investment professionals to determine whether such relationship and/or transaction is suitable.
BOF disclaims all liability for any direct or indirect damages and/or costs that may arise from the use of (whether such use is proper or improper), or access to, this document (or the inability to access this document).
Copyright © 2019, BlueOrchard Finance Ltd. All rights reserved.