1982 Ventures backs PasarMikro an Indonesian based Agri Commodity Marketplace startup that empowers disadvantaged farmers by simplifying transactions for both farmers and traders.
- PasarMikro raised funds from 1982 Ventures and prominent angels.
- PasarMikro is an ag-tech startup aiming to disrupt Indonesia’s USD$130B agriculture market by connecting farmers and traders.
- PasarMikro will use the funds to expand team and to reach out to more farming communities in Indonesia.
PasarMikro was founded by former Altermyth co-founder Dien Wong. Since their pilot in December 2020 the company has helped farmers to trade and finance the distribution of over 5,000 tonnes of eggs and other commodities. Despite the effects of the pandemic, Indonesia’s USD$130 billion agriculture market remains one of the top industries ripe for disruption.
Dien Wong, Founder and CEO, of PasarMikro stated, “PasarMikro is looking after Indonesia’s main providers, farmers and traders who are often overlooked. We are transforming the landscape for a more inclusive digital economy. We foresee that with the digitization of the ecosystem, it will enable a scalable future food value chain.”
“We have not seen an inclusive financing model in Southeast Asia achieve what appears to be product-market fit and begin scaling as early as PasarMikro.”
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The Indonesian-based company provides various services for farmers and traders for their daily transactions such as bookkeeping, lending, and marketplace for farmers and the ecosystem to sell their products easily without limitations.
PasarMikro has established partnerships with Bank Rakyat Indonesia (BRI), one of Indonesia’s largest banks, and Rabo Foundation, a social fund backed by European agricultural bank Rabo Bank with a mission to give smallholder farmers the prospect of a sustainable future.
Herston Elton Powers, Managing Partner of 1982 Ventures stated, “Unlike other platforms, PasarMikro works with the entire supply chain to enable more efficient agricultural financing and transactions. We have not seen an inclusive financing model in Southeast Asia achieve what appears to be product-market fit and begin scaling as early as PasarMikro. PasarMikro is incredibly capital efficient and has seen impressive disbursement growth since day one.”
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Scott Krivokopich, Managing Partner of 1982 Ventures stated, “Indonesia’s agriculture ecosystem is massive and long overdue for modernization. Dien’s decades of experience in game development and time spent in the field with farmers is the driving force behind PasarMikro’s impressive growth.”
The funds will be used to expand PasarMikro’s team and reach out to more farming communities in Indonesia.
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