UfarmX Hits $6.8M Commerce and Plans Kenya Expansion

In Short

• UfarmX says it has facilitated more than US$6.8 million in agricultural commerce across Nigeria, Senegal, and Liberia.
• The startup works with 17,000+ credit-scored smallholder farmers and vetted retail partners.
• UfarmX plans to enter Kenya in Q4 2026 and launch a credit-scoring API for banks by year end.

What Happened

UfarmX is a Nigerian agri-tech platform that helps smallholder farmers access inputs, credit, and buyers. It uses blockchain, which is a shared digital record book that makes transactions easier to audit.

The company says it connects farmers to quality inputs, often on credit. It tracks those transactions on a transparent ledger. It also helps farmers sell after harvest and uses farm and repayment data to support growth.

Across its three active markets, UfarmX says it works with more than 17,000 farmers who have been credit scored. Credit scoring is a way to estimate the likelihood that someone will repay a loan, similar to how banks rank borrowers.

UfarmX also says its insured retailer channel has a net default rate of 1.17%, without collateral. Collateral is an asset pledged to secure a loan, like land papers or equipment.

The CEO, Alexander Zanders, said the company started with direct lending to prove repayment behaviour. It then shifted to a retail model where local retailers extend credit to farmers using UfarmX data, without a bank involved.

Why It Matters

UfarmX is now moving toward a more bank-facing product. The company plans to launch a credit-scoring API by the end of 2026, so banks and other lenders can plug into UfarmX underwriting and process agriculture loans faster.

An API is a set of tools that lets software systems talk to each other, like a secure connector between a bank’s loan app and UfarmX risk data.

Kenya is the next target market in Q4 2026, and would be UfarmX’s first expansion into East Africa. If the API and Kenya rollout land well, it could make agricultural lending feel less risky for banks, and expand working capital options for farmers and input retailers.