CropLogic realTime lease finance for Australian farmers

By Meagan Evans. Published at Mar 29, 2019, in Technology

In a move that will enhance its access to multi-billion horticulture industry, CropLogic Limited (ASX:CLI) has arranged lease finance options for Australian farmers to purchase its award winning hardware and software package.

The lease finance has been arranged through German financier GRENKE, which operates in 32 countries, and will provide Australian farmers with cost effective tools to help optimise their farm yields.

Lease financing allows growers who purchase the CropLogic realTime hardware and software bundle flexibility to pay it off over a period of time.

The process is designed to be user friendly with the farmer submitting applications for leasing through an online portal. The application processing is completed in minutes with electronic document signing on the spot. Once approved the grower will have a direct lease finance relationship with GRENKE.

CropLogic realTime monitors and tracks key crop metrics, such as soil moisture and irrigation, and converts observations into data 24/7. This information is then collated in a concise and accurate format, providing actionable insights for users to make cost-saving decisions. Users can view this data in a user-friendly application called CropLogic GrowerView, which can be accessed via desktop, as well as on both Android and Apple iOS. CropLogic has developed this tool with the expertise of leading agronomists, leveraging over 30 years of research.

GRENKE’s Brendan Kelly, Account Director said, “We have been watching with interest CropLogic's growth in Australia and around the world. GRENKE is excited about the market trends that would make a product like CropLogic realTime useful to horticulture growers and looks forward to assisting growers with their purchase of CropLogic realTime.”

CropLogic CEO, James Cooper-Jones said, “CropLogic is aware of how important cashflow is to our growers. This is why CropLogic is excited to offer GRENKE lease finance options to purchasers of CropLogic realTime.”

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

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