Innovation for Smallholder
Farmers in Latin America
Digital Trade Finance for Latin American SMEs
Company Background
Finanex works across Latin America to help small businesses and farmer groups get the money they need to export food products like grains or frozen goods. Their main service gives these businesses cash before they get paid by buyers abroad — but only after the goods are packed and ready to ship. This helps the businesses buy more from farmers, earlier. Most of this process is managed through Finanex’s online platform, though there is still a human element for the quality control – Finanex staff still review important steps. Right now, about 70% of all transactions go through the digital system.
Our Product
Finanex’s main product is called “cash against documents.” Finanex provides farmers with advance payment once the goods are safely stored — usually in a verified warehouse or cooperative facility — and all export documents are ready. They also work with partners who help farmers improve their production.
The digital platform makes the financing faster and more efficient for everyone involved. Analysis and credit decisions are digital-assisted, reducing paperwork while retaining expert oversight.
Under this agtech project, Finanex aims to:
- Enhance its software to incorporate improved financial services and non-financial solutions
- Upgrade underwriting by automating document review
- Launch a dashboard for clients, including container tracking
- Benefit 2,500 farmers in Paraguay through the improved platform
What Our Users Say
Coming soon.
This project is supported by Incofin Foundation, with funding from IDB Lab.
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This Project is financed under the project “Innovation in Ag Tech and Digital Agriculture for Small Farmers” funded by the Inter-American Development Bank, as administrator of the Multilateral Investment Fund (IDB Lab)”. This Project is also financed under the Smallholder Sustainability Upscaling Programme (“SSNUP”) funded by the Ministry of Foreign and European Affairs of Luxembourg, the Swiss Agency for Development and Cooperation (“SDC”) and the Liechtenstein Development Service (“LED”) and is coordinated by Appui au développement autonome a.s.b.l. (“ADA”)”.
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