An Agri-tech Startup, HARA, Bridges Farmers with Financial Companies

HARA and other agri-tech startups surged to the market. The difference is that HARA entered as an application that provides blockchain technology-based data in the agriculture industry. With this data, the company is trying to open up access to farmers for financial services.

Previously, access to financial services is considered difficult to reach due to the limited availability of accurate data. HARA collects and verifies data through the Agricultural Cadre that has been approved by the farmers. Then, they collaborate with companies involved in the agriculture sector.

In this case, they collaborate with formal financial companies, agricultural insurance, and providers of agricultural equipment.  As a result, all parties involved in the agricultural ecosystem have become connected with the exchange of data. HARA is also a bridge that connects farmers with stakeholders.

HARA connects farmers and stakeholders through the data that has been collected. For example, there are data from the land area, location, and so on. Since its establishment in 2015, HARA has gathered more than 27,500 farmers that are managed by more than 800 active Agricultural Cadres in HARA.

This farmer data will be used to make credit assessments or agriculture insurance appropriately and accurately. With HARA’s farmer repayment rate of 98%, it becomes evident that farmers can be relied upon to become banking customers. Then, what are the job desks of HARA Agricultural Cadre?

HARA Currently Has 165 Active Farmer Depots

For Agricultural Cadres who enter the HARA ecosystem, they need to gather information using the HARA application by establishing relationships with farmers in the village. Then, by registering in the HARA ecosystem, farmers can access various things such as agricultural finance and insurance programs.

HARA also provides HARA Depot or Farmer Depot to open access to agricultural goods. The Depo also teaches entrepreneurial and agricultural techniques at the same time, as well as equips the depot with a management system to simplify the process of the recording business.

As a consequence, if they meet the Farmers Depot requirements, they can easily apply for financial facilities. Until now, HARA already has 165 active Farmer Depots. Larissa Sidarto, HARA’s Director of Business Development and Marketing said that HARA also works with other companies.

Larissa explained that with the information she has, HARA cooperates with companies that need access to information for the process of purchasing data. For example, there is financing agricultural business in collaboration with Bank Negara Indonesia (BNI) and Bank Tabungan Pensiunan Nasional Syariah.

Then, for the protection of agricultural land, HARA cooperates with insurtech Qoala. This way, the startup can make the registration process and insurance claims more easily for farmers in case their harvest fails. Larissa also said that her company will continue to promote agriculture entrepreneurs.

HARA Also Collaborated with Trenggalek Regency to Launch HARANOVA

“We will continue to encourage agripreneurs. We are currently only operating in East Java and will expand,” Larissa explained. In this case, the plan is to expand cooperation with more banks, finance companies, and technology. Meanwhile, HARA recently collaborated with the Trenggalek Regency to launch HARANOVA.

HARA CEO, Regi Wahyu said that with technology, everything is now possible. All participants may have their data which is then mixed and updated with the whole data collected from the whole consortium participants. “We see the potential that many people in Indonesia like consensus decision making.”

The signing of the collaboration between the Regent of Trenggalek, Mochamad Nur Arifin with HARA CEO Regi Wahyu, and Chairman of Innovator 4.0 Budiman Sudjatmiko was held at the Trenggalek Innovation Festival (TIF). It was the first step to realize the creation of agricultural data integration.

TIF is the largest public service innovation festival ever held in Trenggalek Regency. It was prioritizing innovations designed by each Regional Apparatus Organization (OPD). The event was also enlivened by an interactive discussion and a performance of art, culture, and public entertainment.