PlusPlus is a crowdfunding platform that connects individual investors to agribusinesses. It provides affordable and flexible finance to underserved small and medium agribusinesses and contributes to agricultural development, employment, food security, climate-smart agriculture and improved livelihoods for smallholder farmers.
P4G provided the partnership with two rounds of grant funding totaling about $1.9 million.
Through its crowdfunding platform, PlusPlus provides affordable and flexible debt capital to small and medium agribusinesses in developing and emerging markets. These businesses typically face multiple barriers to access finance such as a high-risk profile because of climate change risks, high collateral requirements, and a lack of available lending entities since their loan amounts tend to be too big for micro-credit institutions and too small for banks.
PlusPlus has a scalable business model where lenders in Europe can choose to fund borrowers whose work aligns with the impact they would like to support. And on the other side, borrowers can pay a one-time upfront fee to get the finance they need with a realistic repayment timeline.
PlusPlus has raised and distributed more than $1.6 million in loans since its launch in August 2020. These loans are distributed to agribusinesses in Africa, Latin America and Asia including in P4G countries Colombia, Kenya and Indonesia. By the end of 2021, SMEs supported by PlusPlus created 125 full-time jobs and improved the livelihoods of 10,000 smallholder farmers.
During the P4G funding period, PlusPlus has steadily grown its pipeline of new lenders on the platform while also adding a pipeline of new borrowers. It has continued to optimize the cost of its operations and build a stronger and more efficient deal origination and borrower onboarding structure.