Pula, a Kenyan-based Agritech startup has secured a $20 Million Series B funding round to provide climate-resilient insurance solutions to thousands of smallholder farmers across emerging markets.
The Series B round was led by BlueOrchard, a global impact investment firm focused on emerging markets with Participation from the International Finance Corporation (IFC) and the Private Sector Window of the Global Agriculture and Food Security Program (GAFSP).
Pula co-founder Thomas Njeru said, “Partnering with such a distinguished group of investors is a key milestone in achieving our ‘Triple 100 Vision which aims to reach 100 million smallholder farmers with insurance. What began as an unconventional idea just nine years ago is now a proven solution that has empowered millions of farmers across 22 countries.”
Founded in 2015 by Rose Goslinga and Thomas Njeru, Pula offers innovative digital tools and insurance products specifically designed to help smallholder farmers manage climate risks like floods, droughts, and other weather-related events. Since its inception, Pula has established partnerships with over 70 insurance companies, 20 reinsurance firms, and 100 distribution partners worldwide.
By bundling insurance with essential agricultural resources like seeds and credit, Pula makes these critical financial protections more accessible and affordable than ever before.
These collaborations have not only provided crucial insurance solutions to smallholders but have also fostered the development of local insurance and reinsurance expertise in agricultural risk management.
Pula currently operates in Kenya, Nigeria, Zambia, Malawi, and Mozambique, with ongoing expansion plans in Asia and Latin America. Their operations are managed from Switzerland and coordinated through a central service center in Kenya.
This new funding will allow Pula to significantly scale its operations and empower a wider network of smallholder farmers to navigate the challenges of climate change and build long-term financial resilience.