Background
Hello Tractor has emerged as the leading and fastest-growing platform for tractor co-sharing in the emerging markets with over 3,000 tractors on the platform, providing services to over 500,000 smallholder farmers. We are operational in 15 African countries as well as in Bangladesh, Pakistan, Guatemala and Jamaica. Our technology provides farm equipment owners with the ability to remotely monitor and manage their farm equipment via GPS devices placed onto the machinery and fleet management applications.
Farm equipment owners who want to earn extra cash with their machinery can opt into our marketplace where they connect with groups of farmers booking for services through a separate Hello Tractor application. Bookings are typically organized by young and enterprising “agents” who book services on behalf of the farmers in their community, thereby ensuring that farmers are organized, digitized, and transactions happen at economies of scale.
Hello Tractor launched a Pay-As-You-Go tractor finance program to provide credit to young entrepreneurs who have large sums of demand pre-booked in our Booking application. Hello Tractor launched the credit product in January 2022 and is on track to provide $10M in tractor loans, reaching over 110,000 new farmers, and the potential to create over 3,500 jobs.
