Oikocredit supports new coffee platform for impact lenders
Oikocredit is among the first impact lenders active on Beyco, a coffee trading platform based on blockchain technology launched by non-profit organisation Progreso Foundation in 2018.
Beyco connects markets and finance with producer organisations and it supports traders and roasters to provide traceable coffees to their clients.
Beyco's innovative Financier Profile platform makes trade finance more efficient and accessible. It also ensures the delivery of quality coffee to buyers, traders and roasters worldwide.
By connecting credit lines to export contracts signed on Beyco, impact lenders can verify and monitor contract execution in real-time, lower their risk and increase efficiency. Producer organisations can request finance from impact lenders directly through the platform and build a credit history for future loans.
Eduard Walkers, Regional Director Latin America and the Caribbean at Oikocredit, says: “We finance more than 500 coffee contracts per year. By digitalising the process, we can work more efficiently and support even more smaller cooperatives.”
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