Supported a tractor-sharing platform to scale their PayGo tractor fleet
2025
About the company
- Hello Tractor operates a network of 5,000 tractors across Nigeria, Kenya, and Uganda, serving over 2M smallholder farmers and cultivating more than 3M acres
- Provides tractor financing to booking agents through a “Pay-As-You-Go” (PAYG) model, improving access to mechanization for smallholders
- Scaled their tractor financing operations, including the introduction of biofuel-powered tractors to further promote sustainable agricultural practices
Their challenges
- Lower availability of private capital, with an estimated ~25% decline between 2022 to 2024
- Investors’ concerns over scaling biofuel production and adoption within an emerging but impactful market
- Need to articulate a strong business case for fundraising to expand tractor financing and integrate biofuel solutions across the ecosystem
Growth Gateway gave us additional capacity to take an already successful Pay-As-You-Go tractor finance product that we launched 3 years ago and scale it up
Jehiel Oliver
Founder and CEO, Hello Tractor
Enabled £47M debt raise progress, securing £8M term sheet
How we helped1
- Validated and articulated the company’s ability to deploy additional tractors across Africa
- Shortlisting suitable funders and investment funds aligned with Hello Tractor’s financing needs and facilitated investor introductions
- Prepared for funder engagements through detailed talking points, deal room review and a dry run sessions
Impact generated
£8M
Term sheet secured
2M
Farmers reached
(expected)
4000
PAYG tractors financed
(expected)
16%
Annual CO2 mitigated
(expected)
- Supported progress towards a £47M debt raise, with £8M term sheets being secured
- Directed financing towards the deployment of 4,000 tractors through Pay-As-You-Go (PAYG) model
- Hello Tractor was supported through Growth Gateway’s Africa Green Services Deal Accelerator (GSDA) ↩︎
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