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African Startup Funding Tracker

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Moroccan Startup YoLa Fresh Secures USD 7 M Pre-Series A Round
Moroccan Startup YoLa Fresh Secures USD 7 M Pre-Series A Round

YoLa Fresh, a startup that directly connects smallholder farmers with traditional retailers of fruits and vegetables in Morocco,  has fetched the company USD 7 M in pre-Series A funding. The round included Algebra Ventures, E3 Capital, Janngo Capital, and FMO, and the Dutch Entrepreneurial Development Bank. 

Although YoLa Fresh plans to expand into these other markets, Morocco is the priority. By connecting farmers with retailers and food service companies, YoLa Fresh, which tracks produce from farm to retail, hopes to eliminate intermediaries in the food supply chain. This would allow retailers to pay less for produce and ensure farmers receive more profit quickly, thereby syncing supply and demand in a way that minimizes waste. In addition, YoLa Fresh uses data from both stakeholders to provide them visibility into harvests and access to financing.