Frequently Asked Questions

iFarmer is an award-winning agri-fintech business that enables small-scale

farmers and Agri Businesses to maximize their profit. iFarmer bundles everything that a farmer needs: Farm financing, agriculture inputs, advisory, insurance and access to markets.

iFarmer empowers farmers and small/micro agri entrepreneurs by providing access to capital through connecting them with farm financing, training on best farming techniques, sales of farm produce to boost the quality and quantity of their farm production and also provide a healthy earning after harvest for both farmer and funder.

We are a team of passionate men and women, who have years of experience in the Agriculture, Finance and Technology sector. Our common goal is to find ways to create a positive impact on rural farmers, contribute to the growth of food production, improve food security in Bangladesh, and to ensure more contribution in the Agriculture sector to enable us to feed the growing population of Bangladesh. Learn more about us at: https://www.ifarmer.asia/team?locale=en&team=1

You as an individual or organization can join by downloading our mobile application from the Google Playstore (https://rebrand.ly/iFarmerApp) or the Apple App Store (https://rebrand.ly/iFarmerIOS-App) and completing the registration. For any further assistance, please reach out to us directly by writing to us at hello@ifarmer.asia or calling our hotline number at +880 130 253 6026.

Post to your signup using the iFarmer mobile application, make sure to complete your profile by filling out the necessary details. You can then check the available farms for funding and fund by following the steps as you move along the way. At the end of the stipulated farming period, you will receive a percentage of the earnings made from the sale of the produce along with your initial fund (Principal amount) in your designated bank account mentioned on your profile.

Each successful funding is carried forward in the following way:

 

1. Payment made through electronic fund transfers or cheque

2. Payment verified by Team iFarmer

3. Invoice is issued

4. The 5 working day refund period begins where the funder is entitled to a full refund (After deducting 2.5% transaction fee) if he/she requests for it

5. Following the end of the refund period, the fund is transferred to the field operations team for further perusal

6. 15/16 days after the date mentioned on the invoice, the certificate of ownership is issued, stating that the farm is fully operational.

 

The Certificate of Ownership explains the ownership of the asset and iFarmer’s responsibilities in this regard.

For any further assistance, please reach out to us directly by writing to us at hello@ifarmer.asia or calling our hotline number at +880 130 253 6026.

Depending on the farm you select, the cycle can run from 4 months to up to 12 months. At the end of the farm cycle iFarmer facilitates the sale of the agricultural product and gives you your earnings within the stipulated time as mentioned on the certificate.

Earning is based on a earning-sharing criterion and will depend on the farm you are buying. For example, if you are buying a cow farm with 15% projected earnings, at the end of the farm cycle you will receive a total of your principal amount plus the 15% projected earnings on your principal amount.

The initial funded amount (Principal) amount and earnings (Principal+Gain) after sales of the produce will be paid into the account details provided by you when you have set up your profile. You can edit your profile using the iFarmer mobile application to update your bank details and other information. For any further assistance, please reach out to us directly by writing to us at hello@ifarmer.asia or calling our hotline number at +880 130 253 6026.

The funds are used to purchase the agricultural product for our registered farmers as well as other amenities required for effective farming, such as vaccination, pesticides, fertilizers etc. We are also keen on providing constant advisory services to the farmers to make sure the management is efficient to ensure the maximum output. At the end of the farming cycle, iFarmer ensures end market linkage so that the ready products are sold to the right buyer at the right price.

For any further assistance in this regard, please reach out to us directly by writing to us at hello@ifarmer.asia or calling our hotline number at +880 130 253 6026.

iFarmer has a team combined with agriculture production, aquaculture, livestock, agriculture supply chain, and relevant industry experts who carefully select each farmer and are dedicated to addressing any unavoidable circumstances within their best capacity during the production tenure. iFarmer team works relentlessly to reduce the market risk (production quality, market access, price volatility). However, for any such incidents which fall under the clauses of Force Majeures (ie. including but not restricted to acts of God, acts or omissions of any government, or agency thereof, rebellion, insurrection, riot, sabotage, invasion, quarantine, restrictions, strike, lockout, and transportation embargoes), iFarmer will give written notice to the customer for its inability to perform.

iFarmer has partnered with Green Delta Insurance and more are on the way to provide insurance cover for all existing farm projects, so that in the event of unforeseen circumstances, the buyer’s capital can be refunded. For any further assistance in this regard, please reach out to us directly by writing to us at hello@ifarmer.asia or calling our hotline number at +880 130 253 6026.

You contribute by eliminating the need for loans which come with high interest. This is a burden our farmers have been carrying for ages and with your help through iFarmer, they can move towards a better standard of living.

The quantity varies. Please check specific farms or for any further assistance, please reach out to us directly by writing to us at hello@ifarmer.asia or calling our hotline number at +880 130 253 6026.

Payments can be made through one of the following methods or a combination of all of them, depending on the fund size and access to such services by the funder:

 

1. Electronic funds transfers (BEFTN and RTGS. NPSB not allowed)

2. Cheque (Values equal and greater than BDT 50,000/= can be collected by iFarmer if the funder is within Dhaka Metropolitan)

3. Fund deposit to the iFarmer bank account

Yes, you may. Please check the “Farm visit” criteria on our terms of services to learn more about this process: https://www.ifarmer.asia/en/terms_of_services

To learn more about Shariah Compliant farms, please click here.