How Farmlend is planting the seeds of a new agricultural model with embedded payments 

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Farmlend is growing something special. With their online marketplace, Farmlend aims to streamline the agricultural industry by connecting growers with distributors and retailers on a global scale. In building their platform, Abdel Wahab Turkmani, CEO & Founder of Farmlend, is looking to address the fundamental challenges of seasonality in agriculture, enabling year-round produce sourcing and building trust in a fragmented market.

In a world where weather patterns, seasonal demand and complex supply chains can impact cash flow for suppliers and distributors, financial flexibility is key. Since integrating Kriya Payments, Farmlend has experienced remarkable growth and enhanced its operational efficiency, empowering suppliers with immediate payments and buyers with flexible credit terms.

In a relatively short period, this collaboration has resulted in:

• A 25% increase in Gross Merchandise Value (GMV) due to liquidity provided by Kriya
• 33% growth in supplier acquisition rate, as faster, up-front payment differentiated their marketplace.

Connecting a global network of growers

Founded in London, Farmlend began as a tool to provide micro-loans to small and medium-sized agricultural businesses in Lebanon, Abdel Wahab's home country, during the economic crisis.

From these roots, Farmlend has developed into a B2B Marketplace taking the unique challenge of seasonality. “In this industry, buyers don't stick with one supplier year-round. They chase the season across hemispheres," explains Abdel Wahab. This transient nature of business relationships in agriculture needed a reliable intermediary to connect stakeholders. However, this also required a financial foundation that would ensure small and medium producers could manage their cash flow in the face of the buying power of distributors.

"Agriculture is not only the biggest employer of the working class globally but also faces the tightest cash cycles.”
- Abdel Wahab Turkmani, CEO & Founder, Farmlend

Solving the credit problem across borders

Farmlend's partnership with Kriya was an essential step in addressing the cash flow challenges inherent in the agricultural sector. However, the demands of the business were significant, requiring a partner that could go beyond the antiquated methods of traditional finance providers, making quick decisions in line with the tight timescales dictated by fresh produce and harvests. 

Traditionally, producers have had the least power in this arrangement,  often having to wait not just the extended transit time for their goods to be delivered, but also the extensive payment terms of the buyer – often up to 60 days – to get paid.

While Farmlend considered building their own financial infrastructure, the global nature of their business, with networks stretching from Southern Europe through North Africa, the Middle East, and sub-Saharan Africa, meant dealing with a huge range of regulation, APIs and customer needs. 

Kriya's flexible PayLater solutions enabled Farmlend to streamline these complexities, offering a lifeline to suppliers anywhere, many of whom previously faced major operational and financial challenges.

“As a business you need to focus on the thing you’re really good at. The financing piece is absolutely critical to us but it's not the core specialty that we need to build. With Kriya, we can  distribute that ability to get paid now and give buyers payment terms that suit them.” 
- Abdel Wahab Turkmani, CEO & Founder, Farmlend

Digital Trade Credit: A Catalyst for Farmlend's Growth

Working with Kriya, Farmlend has processed a substantial volume of transactions through Kriya, significantly boosting the efficiency of its marketplace. The instant credit decisioning feature of Kriya has been particularly impactful, allowing buyers to make immediate purchases with the confidence of structured payment terms.

• Since integrating Kriya's Payments product in March 2023, Farmlend has achieved a 25% increase in GMV, fueled by Kriya's liquidity offerings for buyers .
• The rate of supplier acquisition has accelerated by 33%.  Thanks to up-front liquidity from Kriya, they’re able to pay suppliers  much faster than others in the market, which is a big competitive differentiator.

“Our suppliers know when they ship products, someone's going to treat them fairly and pay them on time. And our distributors know they’re working with a reliable counterparty and that when they place orders they’ll be the right quality.” 
- Abdel Wahab Turkmani, CEO & Founder, Farmlend

Impacts and Future Prospects

As Farmlend continues its global growth, adding new regions and suppliers, peace of mind and financial equity remain top of mind, with Abdel Wahab specifically aiming to improve the lot of producers world wide. Kriya’s global infrastructure enables seamless new market entry, enabling Farmlend to offer the best service from day one, creating enhanced trust and retention and, ultimately, a better world for growers.

“Something I really love about the Kriya relationship is that it feels like a partnership rather than a service provider who's selling you something.”
- Abdel Wahab Turkmani, CEO & Founder, Farmlend