South African Agri-fintech Startup HelloChoice secures Funding from Standard Bank

South African Agri-fintech startup HelloChoice has announced it secured an undisclosed amount of investment from Standard Bank.

The investment from Standard Bank comes with a 25% equity stake in the startup as it looks to strengthen its service and product delivery as the leading digital fresh produce and agricultural marketplace.

HelloChoice was launched in 2018 by the duo of Grant Jacobs and Graeme Jarvie with the goal of digitalizing the traditional buying and selling of farm produce. The startup has so far received over 2,000 users that have traded over $6.8m.

HelloChoice was invited to work with Standard Bank on the OneFarm Share hunger relief and food security campaign in 2020.

The startup was able to supply and deliver food relief donations of 3,200 tonnes, and amounting to 12.8 million nutritious meals for disadvantaged children and communities.

Grant Jacobs, co-founder of Hellohoice speaking on the funding promised to deliver more innovative services to create food solution in Africa.

“The strategic investment will help us to further fund ongoing tech investment and operational capacity, as we leverage our complementary offerings and strengths to deliver more innovative services and solutions to customers in South Africa and across our continent,” said Jacobs.

Standard Bank’s head of ecosystems, Wendy Pienaar also added that: “Standard Bank’s equity purchase in HelloChoice affirms the bank’s aspirations to play a broader role in the agriculture ecosystem, and forms part of the wider ecosystem strategy, which houses OneFarm and OneFarm Share”.