Phase 1: Launch and validation (2024) Scheduled for initial launch at the end of Q2 2024, Ceres Finance for farmers will exclusively target dairy farms in France and Belgium, representing an initial market of 61,870 farms. The goal is to engage 1,400 users, representing 2.2% of this market, which will mark the achievement of the break-even point by the end of 2024.
The purpose of this targeted launch is to build a solid user base that validates the app's value proposition, before expanding its geographic and functional coverage.
The launch of Ceres Finance for farmers in the dairy production segment is being developed in close collaboration with MIG (Walloon Independent Milk Producers Federation) and the EMB (European Milk Board, representing 100,000 milk producers across 16 European countries).
These two federations aim to play a central role in advocating for fair prices for Belgian and European milk producers. However, due to the lack of current financial data from agricultural operators (data typically available with an 18-month delay), they are unable to effectively influence prices.
By leveraging Ceres Finance for Farmers, the MIG and EMB plan to collect real-time financial data from milk producers, enabling them to justify fair pricing to major retailers and agri-food industry players under European regulation (ART 172bis of EU regulation 1308/2013).
Phase 2: Expansion (2025) Still focused on dairy farms, the plan is to extend the application to Poland, Spain, Italy, and Germany in 2025, covering a total of 500,000 producers. The ambition for this phase is to consolidate the "user base" to 30,000, thus widening the impact and reach of the app.
Phase 3: Growth and market expansion (2026) This phase will mark a decisive step in Fieldkaired's expansion strategy, aiming to cover all categories of agricultural operations, including adding features specific to grain and livestock farms. Geographically, the goal is to extend the app's reach to the rest of Europe, aiming to increase the user base to 150,000. This stage will confirm Ceres Finance for farmers' position as an innovative leader in agricultural management solutions.
2. A highly demanded solution meeting an urgent need
The interest among farmers for a solution like Ceres Finance for farmers is sharply increasing. During various tests conducted in the pre-launch period (first quarter of 2024), a large portion of the farmers interviewed expressed a keen interest in the app, affirming their willingness to subscribe upon its launch.
Indeed, although there are many management solutions on the market, they are all "accounting" oriented and very cumbersome for farmers, who need simple tools tailored to the specifics of agriculture.
This is precisely what Ceres Finance for farmers offers. The current circumstances and recent developments in the agricultural sector only enhance the relevance and timeliness of the solution on the market.
3. A significant challenge
Penetrating the agricultural sector, particularly to introduce digital solutions, represents a major challenge. Indeed, a farmer's goal is to spend as little time as possible in front of a computer and more time in the field, on their farm.
Yet, the enthusiasm shown by farmers for Ceres Finance for farmers during application testing is particularly encouraging, with most ready to subscribe to the app as soon as it is released.
4. They believe in Ceres Finance for farmers!
Numerous major stakeholders recognize the potential of Ceres Finance for farmers and have decided to join the venture by supporting its development.
Notably:
Microsoft supports the project through the integration of Fieldkaired into its Startups Founder Hub, both financially and technologically.
ING provides financial support to accelerate the final development phases.
CBC/KBC is partnering in the pre-launch testing phases with a panel of clients representative of the dairy sector.
The MIG (Independent Dairy Producers Association) and EMB (European Milk Board) are involved in the application's validation phase and contribute to defining its alignment with the needs of dairy producers.
Latest news on 29th August, 2024 from the CEO, Franck Dujarrier
The Fédération Wallonne d'Agriculture (around 15,000 farmers and affiliates), which wants to accelerate digitization and strengthen financial control within farms in a simple, intuitive and effective way, has shown keen interest in our solution. In response, we sent them an initial scoping note, proposing an audit designed to meet their strategic objectives.
We also strengthened our collaboration with several leading banks in Wallonia, particularly active in the agricultural sector. One of these financial institutions has invited us to take part in the Battice Fair (August 31 & September 1, 2024), where we will be presenting the Ceres Finance for Farmers solution. Following this event, we are planning field visits with this bank's agricultural account managers to meet their farmer customers on an individual basis. This is a pilot project designed to mobilize the banks' sales force for the roll-out of our solution.
On an international scale, we were invited to join La Ferme Digitale Française. The founder of this initiative, recognizing the importance of our solution, saw a major interest in integrating us into this network. This collaboration marks a key stage in our expansion and growing influence on the French market.
Finally, we had the opportunity to meet Madame la Ministre de l'Agriculture Wallonne at the Libramont fair, which could pave the way for discussions on a wider deployment of our solution.”
