Tarfin, the regional agri-fintech specializing in providing advanced and diverse solutions for the agricultural sector through its digital platform, announces strengthening its position in the local market. The company has enrolled over 200 retailers on its online platform in its second year of activity in the Romanian market, reflecting its steady growth in the industry.
To revolutionize the financing of agriculture through technology, Tarfin continues to achieve its goals again this year. By establishing strategic partnerships with regional agricultural input distributors and implementing advanced risk management tactics, Tarfin provides farmers with a way to efficiently access the resources they need. Tarfin’s partners are both phyto pharmacies and some of the most important national distributors in different parts of the country, such as Combinatul de Îngrășăminte Chimice Năvodari (CICH), ROCA Agri RDF (Dachim, respectively Adidana) Romchim Protect, Azochim Mureș, as well as Glonos Multicom.
“In a changing agricultural market, where input costs are steadily rising, there is a critical need for financing for farmers and distributors. In this regard, Tarfin is working to support the financial requirements of agri-business players, as we have seen an increase in demand for alternative sources of finance as opposed to traditional ones. With the increase in input prices, farmers and distributors have faced significant financial challenges, impacting the dynamics of local businesses. Through active collaboration and adaptability, we aim to contribute to the agricultural activity acceleration not only in Romania but also across the other Eastern European countries in which we’re actively operating, ensuring that the necessary financial resources are accessible to all those involved in the ecosystem, as we managed to support more than 50.000 farmers until now,” stated Adina China Birta, Managing Director of Tarfin Romania.
Thus, by expanding nationally, Tarfin aims to achieve significant changes within the agricultural sector. Through the involvement of the company’s strategic investors, Tarfin can support farmers in the fall sales season, making available more than €10 million through investments from both local banks and partners such as Elevator Ventures, Syngenta Group Ventures, Yara, Quona Capital, BIC Angels, Collective Spark, and Wamda Capital. In the future, Tarfin aims to diversify its funding sources to accelerate business development.
According to data published by the National Institute of Statistics (INS), 2022 brought an economic growth of 4.8% to Romania compared to the previous year. However, the agricultural sector had negatively influenced the GDP evolution, recording a decrease of 0.5%. As a result, the volume of agriculture activity declined by 11.6%. Even if the share of agriculture in GDP remained constant at 4.5% in 2022 compared to the previous year, these figures reflect the significant need for financial support for farmers in the face of last year’s challenges.
At the same time, the objectives for the fall sales season include introducing a new type of financing for fuel used in farming. This initiative will ensure business continuity in today’s fluctuating economy and volatile fuel prices while supporting the development of the agricultural sector by promoting environmentally responsible practices.
In addition to directly supporting farmers, Tarfin is also involved in developing financing solutions tailored to the needs of the fast-growing digital market, with a focus on implementing specific financial solutions for online shops. With e-commerce increasingly gaining ground, accounting for 22% of total global retail sales by 2023, this initiative is helping those operating in the online environment by providing them with the financial resources they need to expand their businesses, diversify their products, or invest in technological promotion and development. Relevant partners include online shops such as seminteplante.ro, agronor.ro, sterado.ro, ruralplant.ro, agroinnovation.ro.