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QLD Ag-tech disruptor launches called AGFIN offering agriculture industry ‘Pay As You Go’

November 28, 2019 Financial No Comments Email Email

Leading ag-tech pioneer Mark Peart today launched his next disruptive platform for the agriculture industry, a (PAYG) ‘Pay As You Go’ business called AGFIN.

AGFIN is a first of its kind ag-tech rental model for the agriculture sector and allows farmers nationally to rent DIT devices and equipment including its water supplement technology at an affordable monthly fee. The ag-tech innovator launched this week and has already supplied livestock producers with IOT devices on a PAYG model in three states across Australia.

AGFIN plans to decrease the costs associated with supplementing livestock by up to 50 per cent for early adopters and hopes that farmers using the AGFIN model will see a return on investment.

AGFIN is looking to raise $15 million to blitzscale its business to meet the growing demands of farmers crying out for technology solutions in the agriculture and livestock industry.

The new PAYG startup is the second brainchild of Mark Peart, who founded DIT Technologies a business that specialises in water supplementation (formerly known as water medication) for the livestock industry of Australia and reaches farmers in the most remote areas of the nation.

DIT Technologies uses technology to provide a more efficient, effective and cheaper method to supplement livestock. The use of DIT’s supplement technology has drastically reduced the costs of feeding livestock for farmers nationally, reducing the cost from 40 cents a day per animal to just 8 cents a day.

After experiencing first-hand the hardship many farmers particularly in Northern Queensland and the Northern Territory are experiencing Peart was inspired to create AGFIN as an affordable solution for farmers who needed to implement technology solutions immediately but without the upfront costs.

“AGFIN is a game-changer for farmers, it’s a company that was born out of a roadblock to continued innovation in the ag-tech sector. DIT Technologies has grown so rapidly that we needed a business to help fuel this growth and we also needed to introduce a PAYG model for farmers similar to an Afterpay model but for the bush,” says Peart.

“I strongly believe that everyday Australians care about the future of farming, the agriculture and livestock industry in Australia and they want to be a part of this. I witnessed this first-hand with our first equity crowd fund campaign for DIT Technologies with Equitise. AGFIN is no different, it’s an entry point for sophisticated investors to be a part of positive disruption and change to fuel the required growth we need to succeed in the agriculture sector,” he said.

AGFIN was created as an innovative product in response to continued hardship throughout Australia’s farming regions to assist farmers with a manageable, cost effective rental method. The innovative modelling of AGFIN will not just save farmers money but offers investors interested in the agriculture industry an opportunity to make a return of 10.79% per annum.

A passionate pioneer and disruptor to the ag-tech sector, Mark Peart has earnt himself a reputation for creating innovative solutions for the farming and livestock sector to save the sector money.

In the last  six months, DIT Technologies has expanded its footprint nationally, grown its team of eight employees to 25 and acquired competitor businesses.

Earlier this year, the business launched its own remote farming smartphone management platform and closed the gap between remote data scraping, camera technology and smartphone capabilities to create a tech powered solution to the agriculture sector.

AGFIN launches this week and has already supplied farmers across Australia and will save farmers on average 50 per cent of their average costs per day.

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