GCash, Globe’s mobile wallet, has tapped Farm Konekt to provide farmers and fishermen access to non-collateralized loans powered by its credit arm, Fuse Lending.
“This partnership continues our relentless drive to serve Filipino farmers, aligning the GCash mission to serve every Filipino wherever they are,” Tony Isidro, president and chief executive at Fuse Lending, said.
“Farm Konekt’s connections with the farmer groups make them a good on-ground arm for us to better understand the needs of our farmers, who form one of the most important sectors of our economy,” he added.
Farm Konekt is a community-based farm management enterprise platform focusing on data-driven clustered production to up skill farmers and secure demand for their produce. Farmers and fisherfolk are offered clustering solutions that encompass consultancy, capacity building, and matching them with customers.
To help boost the agricultural sector, the partnership will also give farmers and fisherfolk access to a wide range of business services in the GCash app, such as GSave and GInsure, to grow their savings and secure their finances.
“Together with GCash, we look forward to building an inclusive ecosystem that ensures farmers and fisherfolks benefit from the fast-evolving digital economy. The majority of the farmers we transact with either go through remittance centers or use GCash,” John Gastanes, Farm Konekt president and chief executive, said.
The agreement kicked off with a financial literacy session with farmers in Jaen, Nueva Ecija, who were taught how to manage their finances with concepts like savings, insurance, and responsible borrowing.
The collaboration aims to make significant contributions to the agritech industry which is focused on data-driven farming and linkage to markets, with innovative fintech solutions that make essential financial services accessible to the unbanked majority.
