The platform created with the aim of helping the agricultural sector to go digital, Agro.Club and the neobank for SMEs and the self-employed, Crealsa, come together to offer innovative financing tools for the agricultural industry. Both companies will provide a comprehensive set of products tailored to this sector. Among others, it will offer factoringsupply chain finance, transactional services and buy now pay later in the near future.
Spain, the third largest agricultural producer in the European Union, has a diverse sector with a very clear regional specialization. However, according to surveys carried out among Spanish farmers, their main problems are high production costs and low sales prices.
More than 70% of Spanish farmers requested financing in 2017, a figure substantially higher than the average of the European Union, of 30%, according to the survey of fi compass. While the purchase of machinery, equipment and facilities turn out to be the main objectives of bank loans, the financing of working capital remains a neglected need.
According to Michael de JonghChief Growth Officer and member of the Board of Agro.Club, “As our industry insight backed by recent surveys shows, the agricultural sector is in dire need of innovative technology tools. Our recent survey reveals that more than 90% of Spanish farmers and distributors are interested in acquiring analytical tools to better manage orders and optimize marketing programs”. to which he adds “With such a reliable partner as Crealsa, we look forward to incorporating financial solutions into the platform to unlock new business and provide financing for underserved market segments. This agreement has the technological participation of Toqio, a fintech pioneer in the development of digital financial solutions”.
José Molina, CEO of Crealsa points out: “Crealsa is the alternative to traditional banking for SMEs and the self-employed. To consolidate this position, we have established alliances with national and international leaders in the financial and technological field, such as Agro.Club, to offer an exceptional value proposition to clients.«. To which he adds: “As a neobank, Crealsa combines the access of companies and the self-employed to agile and flexible financing with complete transactional functionality, providing our clients with a unique offer of services for their entire business”.