Forward Finance secures US$68.8M to expand South African farm lending

What's the deal? Agricultural fintech Forward FinanceDealroom has a profile for this one. Try Dealroom → has secured US$68.8M in lending capital to expand its financing for South Africa's farming sector. The FedgroupDealroom has a profile for this one. Try Dealroom → Smart Agri Fund led the arrangement, expanding an existing structured finance facility, while a separate senior funder provided a new senior facility.

Who's involved? South African law firm Deneys advised on the deal, announced in July 2026. Its team was led by banking and finance director Izak Lessing, with associate Tiyana Ramchunder.

What's the endgame? The US$68.8M will give Forward Finance additional capacity to back the country's agricultural sector. The deal also brings an institutional fixed-income supervisor onto its lender bench.

Why now? The arrangement builds on prior ties. Lessing led Deneys in advising Fedgroup Smart Agri Fund on a US$27.5M revolving credit facility extended to Forward Finance Institutional in 2025.

Fedgroup Smart Agri Fund has worked with South African farmers since 1990, handling financing for local farmers, marketers, processors, and growers across the national supply chain.

The signal: The scale-up in facilities — from US$27.5M in 2025 to US$68.8M now — points to growing institutional appetite for structured lending in South African agriculture, channelled through fintech intermediaries rather than traditional banks.

Read more: African Law & Business

Image credit: UnitedSoybeanBoard