The world’s largest agriculture equipment maker is now the largest investor in Hello Tractor, an agricultural technology company based in Nairobi, Kenya, with a farm equipment sharing application that connects tractor owners with smallholder farmers who need tractors. And an NGO played a key role in making the deal happen.
The American farm equipment manufacturing giant John Deere invested an undisclosed amount in the ag-tech startup last year.
Hello Tractor CEO Jehiel Oliver credits philanthropic support from Heifer International for drawing in commercial investment from John Deere. Over the last few years, the global nonprofit, which aims to eradicate hunger and poverty, has awarded Hello Tractor $4.5 million in philanthropic capital, including a recoverable grant — essentially a zero-interest loan. By doing so, Heifer provided seed capital for Hello Tractor to scale up its new tractor financing product. This paved the way for private sector investors like John Deere to put in their money, too.
About the author
Catherine Cheneycatherinecheney
Catherine Cheney is the Senior Editor for Special Coverage at Devex. She leads the editorial vision of Devex’s news events and editorial coverage of key moments on the global development calendar. Catherine joined Devex as a reporter, focusing on technology and innovation in making progress on the Sustainable Development Goals. Prior to joining Devex, Catherine earned her bachelor’s and master’s degrees from Yale University, and worked as a web producer for POLITICO, a reporter for World Politics Review, and special projects editor at NationSwell. She has reported domestically and internationally for outlets including The Atlantic and the Washington Post. Catherine also works for the Solutions Journalism Network, a non profit organization that supports journalists and news organizations to report on responses to problems.
