*Data updated daily at 18:00 EAT
Nigerian tractor-booking platform Hello Tractor has raised USD 1 Mn in funding from Heifer International to provide loans for tractor purchases which can be repaid from revenues earned by leasing them to local farmers. The cash is funding a new program, “Pay-As-You-Go (PAYG) Tractor Financing for Increased Agricultural Productivity in Nigeria.
Hello Tractor has rolled out a tracking device and software that allows farmers and tractor owners to book connected tractors from their phones. Farmers get a critical service formerly unavailable to them, and owners see a fleet optimization opportunity that also minimizes fuel theft and fraud.