Crowdfunding platform Money Farm has emerged winner of the Gambia leg of the early stage startup competition Seedstars World held in Banjul on November 17, 2018. Money Farm will now move on to compete at the global finals in Switzerland next year to stand a chance of pitching for up to $1 million in equity investment.
Winners in the global early-stage startups competition had emerged in several African countries with Franco Group, a South African Self-Insurance platform joining the list as the latest before Gambia’s Money Farm.
Founded in July 2018 by Modou NS NJIE who is an IT Specialist, the platform aims to act as an industry disruptor by transforming subsistence farming into commercial farming through the provision of crowdfunding from individual investors who will be matched with screened farmers/entrepreneurs.
9 startups pitched in front of an investment panel, each given three minutes to pitch in English, followed by another five minute Q&A session.
The 9 startups include Money Farm, Kameko, Nesthet, Assutech, Educare, GamDiary, Ping Money, Tecqil and Wonma.
Money Farm emerged the winner, while Kameko was 1st runner-up for its Ryde Africa Taxi mobility solution and Nesthet was 2nd runner-up for its mobile clinic service.
Money Farm will now go on to represent Gambia at the Seedstars Africa summit in Tanzania next month before moving on to partake of the global event in Switzerland next year.
The next leg of the Seedstars world competition will take place in the port city of Tanga in northern Tanzania where the city ’s best early-stage startup will be selected on November 23, 2018.
