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 $963,070 in catalytic grant funding in 2019 and will provide $984,400 through an additional round of funding in 2021.
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 $650,000 in loans since its launch in August 2020. This includes more than $300,000 distributed in agribusinesses in P4G countries including 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.
PlusPlus has the ambition of raising over $1.2 billion over the next five years and helping create more than 100,000 full-time jobs. During the P4G funding period, its goal is to unlock $7.9 million in investment capital for 105 agribusinesses, create almost 900 full-time jobs and positively affect about 80,000 people.