It is rare to come across a project with such direct and tangible results on the ground.
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Summary sheet
Release date
27 October 2023
Status
Reference
Signed | 19/07/2023
20220630
Project name
Promoter - financial intermediary
CROWDFARMING (IEU G)
CROWDFARMING SL
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 15 million
EUR 38 million
Description
Objectives
CrowdFarming is a one-stop-shop platform for farmers seeking to sell directly to end-consumers without intermediaries. The investment programme addresses, among other activities, the further developments and enhancements of the digital marketplace, the integration of a broad and diversified range of payment methods to make user experience as frictionless as possible, the development of tools that foster order recurrence and promote transparency and sustainable agricultural practices, and the development of additional automation capabilities in logistics.
The project will finance mostly investments in research, development and innovation (RDI) activities, as well as the commercial growth of the company.
Additionality and Impact
The proposed operation is aligned with InvestEU objectives regarding the development, deployment and scaling-up of digital technologies and services and addresses the European Green Deal Innovations Main Policy Priority Area under the InvestEU Research, Innovation and Digitalisation Window (RIDW).
The project also supports the EIB's objective of innovation and digitalisation, as it supports the development and market introduction of specialized B2B2C digital products to allow farmers to sell their products directly to end-consumers, including logistics, marketing, customer-support, and an online marketplace.
The EIB financing addresses a financing market gap thanks to a combination of unique features such as a 3-year availability period associated with a long-term maturity date and a bullet repayment. This would enable the Borrower to focus on growing its business by deploying its technological and commercial roadmap.
The project will lead to the development and deployment of innovative product and process technologies with substantial environmental and social benefits, and it is aligned with the European Commission in its Farm to Fork strategy promoting organic food and enabling direct commercialization from farmers at a competitive price.
The project would not have been carried out (to the same extent) by the EIB without the InvestEU support.
Environmental aspects
Procurement
The related activities will be performed in existing buildings with no relevant environmental impacts expected. The project does not fall under the environmental impact assessment (EIA) Directive 2014/52/EU (amending EIA Directive 2011/92/EU) therefore no EIA is required.
The promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, and is thus not subject to EU rules on public procurement.
Milestone
Under appraisal
Approved
Signed
14 June 2023
19 July 2023
Related documents
Related projects
Documents
Environmental and Social Data Sheet (ESDS) - CROWDFARMING (IEU G)
Publication Date
31 Oct 2023
Document language
Main Topic
Lending
Document Number
168723514
Document Focus
Environmental Information
Document Type
Project Number
20220630
Sector(s)
Regions
Countries
Publicly available
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News & Stories
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Inside the project
How and Why
A win-win for farmers and consumers
Why
- Better for the farmers, who receive a fairer price
- Better for the consumers, who receive fresher food
- Better for the environment because it reduces transport and storage time and cuts food waste and unnecessary packaging
- Supports small-scale farmers, contributing to rural regions and strengthening local communities
How
- Directly links consumers and farmers, allowing consumers to know exactly where the food is grown and how
- CrowdFarming platform is helping to digitalise Europe’s agricultural sector and give producers more information on clients and demand
- Consumers can strengthen their relationship with farmers by adopting a tree or plot
Sectors & Countries
Play video
1:58
Story
Tasty and good for the planet
CrowdFarming represents 300 farmers from 15 countries, mainly in Europe. Customers have the option of ordering boxes of fruits and vegetables or products like honey and cheese. They can even adopt a tree, a plot of land or an animal and receive the harvest or other food.
Consumers buy products directly from farmers, which shortens the time between production and purchase and reduces food waste. Unlike some supermarkets, CrowdFarming does not store fruits and vegetables for weeks or spray it with antifungal chemicals to avoid spoilage. The efficient model benefits farmers and consumers.
The EIB has provided €15 million in venture debt to support CrowdFarming. This financing, backed by the InvestEU program, will enable the platform to scale reach more consumers and work directly with more farmers.
We are deeply committed to the concept of ‘farm to table.’
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