iFarmer
Dhaka-based agritech company founded in 2018 that provides farmers and agri-input retailers with financing, inputs, advisory services and market links. It reported serving more than 300,000 farmers in April 2026.
Industry: Agricultural technology and finance | Location: Dhaka, Bangladesh
About iFarmer
iFarmer is a Bangladeshi agricultural technology and finance company that supplies smallholder farmers and agri-input retailers with credit, inputs, advisory services and access to buyers. It is based in Dhaka and has a registered office in Singapore. In April 2026 Future Startup reported that it served more than 300,000 farmers and 24,000 agricultural retailers.
Fahad Ifaz and Jamil M. Akbar started iFarmer in 2018 as a side project. It began as a service for leasing urban rooftops to farm, which the founders dropped after about six months, and in August 2018 it moved to its present model combining agriculture, finance and supply. Ifaz is co-founder and chief executive, Akbar is co-founder and chief operating officer, and the company's leadership page also lists Makame Mahmud as chief financial officer. In November 2023 Ifaz said it had close to 300 staff and five regional offices.
The company's products are Folon, a farmer financing and advisory service; KriShop, an agri-input platform; Sofol, which covers crop insurance and risk management; and iharvst, which links farmers with funders. It launched the Folon app in late 2024. Mutual Trust Bank signed the first bank pilot in 2021, and BRAC Bank, Dhaka Bank, Prime Bank, EBL and others later became partners. In November 2024 it launched a cashless farmer card with Visa and United Commercial Bank in Chuadanga.
In early 2020 iFarmer closed an undisclosed seed round from a Singapore-based venture firm and angels. In 2022 it raised a USD 2.1 million pre-Series A round led by IDLC Venture Capital Fund, with Millville Opportunities and Startup Bangladesh. In April 2025 the Pioneer Facility, an impact fund managed by Nexus for Development, provided a USD 500,000 three-year loan for working capital, its first investment in Bangladesh. In April 2026 Symbiotics, a Swiss impact investing platform, provided USD 1.5 million of working-capital debt for input distribution.
In November 2023 Ifaz wrote that the company was profitable with turnover above BDT 500 crore, figures that are the company's own.
Leadership
- Fahad Ifaz, Co-founder and Chief Executive Officer
- Jamil M. Akbar, Co-founder and Chief Operating Officer
- Makame Mahmud, Chief Financial Officer
- Waliur Rahman, Product Advisor