Today in Paris, Petale Group and Turbo Cereal are launching an investment vehicle to finance European farmers up to $107M over four years.
In a particular economic context where the supply of cereal resources is tested, Petale Group and Turbo Cereal have formalized an alternative and innovative financing model to meet the liquidity needs of farmers.
The objective of the green fund is to develop an alternative investment model between Petale’s tokenized fund and Turbo Cereal’s trading activities to modernize the financing of the sector through Petale’s digital asset while offering attractive returns on investment.
By concluding an agreement for an initial fundraising round of 10 million euros ($10.73 million), accessible from Petale’s platform, this initiative creates a virtuous cycle of circular economy, allowing the financing of a first harvest thanks to the alternative-digital financing mechanism. This first fundraising could be extended to 100 million euros ($107 million) by 2023, depending on investors’ appetites.
The creation of a green bond on Petale’s blockchain offers investors an attractive yield for a secured bond while allowing them to finance impactful agricultural projects. For farmers, this initiative offers a more accessible and faster method of financing than through traditional channels, while providing better production and traceability through data collection.
To facilitate access to liquidity, Turbo Cereal is providing an ecosystem of farmers and traders to irrigate more than 2,000 farmers with cash provided from Petale’s platform. The first phase of financing is planned for this summer.
“Petale’s green fund is dedicated to investing in green impact projects, such as financing the grain industry. Under this agreement, we will provide the necessary liquidity to farmers and their production cycles through fast and transparent channels, while paying high returns to our clients,” said Babacar N. Seck, CEO and founder of Petale.
“Turbo Cereal’s ambition is to fight against the lack of liquidity of farmers by proposing to investors to participate in their financing. This agreement with Petale allows us to initiate a first round of financing that will allow us to implement this vision while contributing to the revival of the rural economy and ultimately financing thousands of farmers,” said Marcel Turbaux, CEO of Turbo Cereal.
By combining the concepts of blockchain, traditional finance and alternative digital financial services, the partnership between Turbo Cereal and Petale constitutes a disruptive value proposition to contribute to the financing of the real economy.
Petale is a next-generation fintech company for investing, paying, certifying and tokenizing assets.
The group relies on its alternative investment fund and its digital assets to offer high value-added digital financial services. Petale democratizes access to new forms of wealth ownership and management through advanced technologies, such as artificial intelligence and the blockchain, to a market of qualified investors and asset managers.