Salad
Salad Africa is a Lagos-based agricultural fintech that provides interest-free trade financing and same-day invoice factoring to smallholder farmers, aggregators, and processors in Nigeria, Cameroon, and Benin, delivered through its SourcePro supply-chain platform.
- Company typePrivate
- Founded2022
- HeadquartersLagos, Nigeria
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Salad does
Salad Africa is a Lagos-based agricultural fintech founded in 2021 that provides trade financing and invoice factoring to smallholder farmers, aggregators, and processors across Nigeria, with active operations in Cameroon and Benin. The company's core proposition is to close the working-capital and liquidity gap in African agricultural supply chains — where farmers cannot afford inputs and aggregators face cash-flow gaps between receipt of produce and downstream payment — by extending interest-free trade financing tied to verified off-take demand and converting delivery receipts into same-day cash through its Instant Pay product.
Salad's technology is built around SourcePro, a digital platform that connects farmers, suppliers, transporters, and buyers on a single workflow with embedded financing, GPS-based logistics tracking, quality assurance, real-time market intelligence, cross-border trade compliance, and automated multi-currency settlement. SourcePro functions as both the operational backbone (KYC, supply-chain visibility, logistics) and the distribution channel for Salad's two financial products: Trade Financing, which is described as 0% interest with margin-based returns, and Instant Pay, an invoice-factoring product priced on a per-transaction basis. The company claims 1,900+ financed transactions, 10,000+ metric tons of produce moved, $5M+ in credit disbursed, a 98% loan recovery rate, and a 40% average reduction in sourcing costs for partners.
Salad's go-to-market is B2B and sales-led: enterprise sales teams identify and onboard agribusiness partners (WACOT, TGI Group, Coscharis Farms, Golden Oil, Kiara Rice, and others) through a KYC-gated application, with Zenith Bank providing the underlying banking infrastructure and Techstars and Norrsken providing accelerator and capital backing. Revenue is generated through transaction-based fees — margin-based returns on trade-financing volume and factoring fees on Instant Pay — with no publicly disclosed pricing. Total disclosed seed funding to date is approximately $225,000 across two 2022–2023 rounds, and headcount sits in the 11–50 range, placing Salad firmly in early-stage, post-MVP scale-up.
Salad firmographics
Firmographics- Name
- Salad
- Legal name
- Salad Africa
- Website
- https://saladafrica.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Salad Africa is a Lagos-based agricultural fintech that provides interest-free trade financing and same-day invoice factoring to smallholder farmers, aggregators, and processors in Nigeria, Cameroon, and Benin, delivered through its SourcePro supply-chain platform.
- Ownership category
- akta.pro rank
Salad industry classification
Industry- Product category
- Agricultural Fintech / Supply Chain Financing
- NAICS
- Farm Supplies Merchant Wholesalers (42491), Other Farm Product Raw Material Merchant Wholesalers (42459)
- SIC
- Agricultural Services (700)
- akta.pro primary industry
- Farm Finance, Input Procurement & Risk Tools (Budgeting, Inventory, Insurance Links) (AFAAAFAO)
- akta.pro secondary industries
- Fresh Vegetable Wholesale (AFAIACAB), Agriculture Inputs & Farm Supply Marketplaces (CRAFAHAL)
Keywords
Where Salad is headquartered
LocationHeadquarters
- HQ city
- Lagos
- HQ country
- Nigeria
- HQ region
- Africa
Offices1 record
Markets served
Salad business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Trade Financing (Margin-Based): Provides interest-free financing for production-critical crops with margin-based returns. Culturally aligned financing tied to verified demand, specifically designed for African farmers and suppliers. Generates revenue through interest margins on financed transactions.
- Invoice Factoring (Instant Pay): Same-day funding solution that turns delivery receipts into immediate cash. Eliminates liquidity gaps that slow down the supply chain. Revenue generated through factoring fees or immediate cash advance differentials.
- Platform Transaction Fees: The SourcePro platform facilitates transactions between farmers, suppliers, transporters, and buyers, potentially generating revenue through transaction fees or take rates on financed deals.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels3 records
Salad product offering
Product offeringCore offering
Salad Africa provides interest-free trade financing and same-day invoice factoring to African farmers, aggregators, and processors, delivered through the SourcePro digital platform. The platform connects smallholder farmers, suppliers, transporters, and buyers on a single network with embedded financing, GPS logistics tracking, quality assurance, and real-time market intelligence from field to factory.
Product overview
Salad Africa is an Agricultural focused fintech providing a unified platform (SourcePro) with embedded financing products (Trade Financing, Instant Pay) to connect smallholder farmers with local and international buyers across Nigeria. The SourcePro platform serves as the digital backbone connecting farmers, suppliers, transporters, and buyers with quality assurance from farm to market.
Differentiator
Problem solved
Functional benefit
Brands
- SourcePro: Digital sourcing and payment infrastructure platform for agrotech in Africa, connecting agribusinesses to verified suppliers, real-time market data, and embedded financing.
Products and services
- SourcePro Digital platform connecting farmers, suppliers, transporters, and buyers with embedded financing, real-time market intelligence, GPS logistics tracking, quality assurance, and multi-currency settlement from field to factory. Targeted at African agribusinesses, aggregators, processors, and buyers seeking verified supply and working capital.
- Trade Financing
Quantifiable outcome
- 98% loan recovery rate
- +4 more outcomes
Companies that use Salad
Customer profileNamed customers9 records
Segments4 records
Ideal customer profiles3 records
Salad technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Salad partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and minor.
- Zenith BankcoreLeading Nigerian bank partnered with Salad Africa to support the agricultural financing ecosystem, likely providing banking infrastructure, lending capital, or co-financing arrangements.
- CoschariscoreCoscharis Farms is a key partner in Salad Africa's agricultural network, receiving financing and market access through the platform.
- TGI GroupcoreTGI Group, a major agribusiness conglomerate, partners with Salad Africa for agricultural financing and sourcing solutions.
- Golden OilminorGolden Oil is listed as a partner in Salad Africa's network, sourcing agricultural products through the SourcePro platform.
- WACOTcoreWACOT (West African Cotton) is a major agribusiness partner of Salad Africa, receiving financing support and market access through the platform.
- WASILOLAMminorListed as a partner in Salad Africa's trusted network of agricultural enterprises.
- Kiara RiceminorRice production and trading enterprise partnered with Salad Africa for financing and market access.
- Ni-AgriaminorAgricultural enterprise partner in Salad Africa's sourcing network.
- Onyx RiceminorRice production enterprise partnered with Salad Africa for financing and sourcing solutions.
Scale indicators8 records
Recent moves6 records
Expansion highlights5 records
Salad competitors and assessment
Company assessmentDirect peers
- Twiga Foods: Kenyan B2B agricultural marketplace that connects farmers to vendors with embedded financing and logistics — directly comparable to Salad Africa's SourcePro model across the smallholder-to-buyer value chain.
- Apollo Agriculture: Kenyan agri-fintech that bundles financing, inputs, and advisory for smallholder farmers using a digital platform — comparable embedded credit and data-driven underwriting approach for African smallholders.
- ThriveAgric: Nigerian agritech providing financing and market access to smallholder farmers — direct competitor in Nigeria serving the same smallholder-and-aggregator segments as Salad Africa.
- AFEX Commodities Exchange: Nigerian commodity exchange and finance platform providing structured trade finance, warehousing, and market access to African smallholders and aggregators — direct overlap in agri trade financing.
- Tulaa: East African agri-fintech offering input financing and market access to smallholders via digital marketplace — closely comparable B2B model with embedded credit for input purchase and crop sale.
- Farmcrowdy: Pioneer Nigerian digital agriculture platform connecting sponsors to farmers and providing market access — directly comparable Nigerian agri-fintech targeting smallholder financing and produce aggregation.
Broad incumbents
- DeHaat: Large Indian agri-fintech offering inputs, financing, advisory, and market access to millions of farmers — comparable end-to-end platform model applied to a much larger market, indicating the potential scale path for embedded agri-fintech.
- WayCool Foods: Indian full-stack agri supply chain company with embedded financing and technology layer — comparable model of technology-enabled sourcing, logistics, and financing for agri value chains.
Emerging players
- Cropital: Philippine agri-fintech offering credit and market access to smallholder farmers — emerging market comparable to Salad Africa in providing embedded agricultural financing through a digital platform.
- Pula Advisors: Pan-African agricultural insurance and advisory company embedded with input partners and agribusinesses — adjacent peer addressing smallholder risk in African agriculture, useful comparison for value-added fintech services around the agricultural value chain.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Salad social profiles
Digital presenceSalad financial estimates
Financial estimateRevenue estimate
Valuation estimate
Salad leadership team
Management profileNumber of profiles
Profiles1 record
Salad funding detail
Funding detailFunding overview
Funding rounds2 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Salad M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Salad
What does Salad do?
Salad Africa provides interest-free trade financing and same-day invoice factoring to African farmers, aggregators, and processors, delivered through the SourcePro digital platform. The platform connects smallholder farmers, suppliers, transporters, and buyers on a single network with embedded financing, GPS logistics tracking, quality assurance, and real-time market intelligence from field to factory.
Is Salad a public or private company?
Salad is a private company. It is classified as venture growth investor backed and is currently operating.
When was Salad founded?
Salad was founded in 2022. It employs 11 to 50 people.
Where is Salad based?
Salad is headquartered in Lagos, Nigeria, in the Africa region.
How does Salad make money?
Three revenue lines are on record. Trade Financing (Margin-Based) is the primary driver. The others are invoice Factoring (Instant Pay) and platform Transaction Fees.
Who are Salad's main competitors?
Direct peers on record are Twiga Foods, Apollo Agriculture, ThriveAgric, AFEX Commodities Exchange, Tulaa and Farmcrowdy. Broad incumbents are DeHaat and WayCool Foods. Emerging players are Cropital and Pula Advisors.
Does Salad have an API?
No public API is recorded for Salad.
What industry is Salad in?
Salad's product category is Agricultural Fintech / Supply Chain Financing. Its primary akta.pro industry code is AFAAAFAO, Farm Finance, Input Procurement & Risk Tools (Budgeting, Inventory, Insurance Links), with a secondary code of AFAIACAB, Fresh Vegetable Wholesale. Its NAICS code is 42491 and its SIC code is 700.