Australian farmers have a new, affordable way to access farm equipment.
Ag-tech pioneer Mark Peart, from Toowoomba in southern Queensland, has released a pay-as-you-go platform called AGFIN.
AGFIN is a model for farmers nationally to rent devices and equipment, including water supplement technology, at a monthly fee.
Mr Peart was inspired to create an affordable solution for access to farming technology after witnessing the many challenges farmers experience.
“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,” he said.
Mr Peart also founded a business called DIT Technologies that specialised in water supplementation for the livestock industry and reduced the cost of feeding livestock.
“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.”
AGFIN plans to decrease the costs of supplementing livestock by 50 per cent and offer investors an opportunity for a return of 10.79 per cent per year.
Mr Peart said AGFIN would provide the change for future growth required to succeed in the agriculture industry.