Pumpkn

Pumpkn, operated by AG-Digital Ventures (Pty) Ltd, is a South African non-bank digital lender serving small and medium-sized enterprises in the agriculture and food value chain. Its headline product is short-term working capital of up to R5,000,000 (from R30,000), used for inputs, stock, raw materials, packaging, and bridging retailer or offtake payment cycles, as well as contract and invoice financing against offtake agreements, retailer purchase orders or aggregation supply contracts. Loan terms run from one to six months with daily, weekly or monthly repayment options, and funds are paid directly to the borrower's suppliers per invoice rather than into the borrower's bank account. The company is registered as a credit provider with South Africa's National Credit Regulator under NCRCP18413.

The platform combines an online application (stated to take under 10 minutes) with data-driven credit assessment; press coverage describes the platform as linking directly to agri-SME bank accounts and positions Pumpkn as also helping lenders identify bankable businesses and manage loan portfolios. Applicants must be CIPC-registered private companies (not sole proprietors) with a business bank account and minimum turnover of R85,000 per month or R1 million per year; food manufacturers need at least one year of trading and agricultural businesses (farming excluding grains and maize, produce aggregation, light processing) at least three years. Required documentation covers director IDs and proof of address, CIPC registration, and six months of bank statements (twelve months for loans above R500,000); management accounts are accepted in place of audited financials. Pumpkn states it does not provide grants, fund pre-revenue start-ups, finance land purchases, or undertake distressed or rescue lending, and refers movable-asset finance to partners.

According to StartupList Africa the company was founded in 2023, is headquartered at The Heritage Firestation, 16 Baker Street, Rosebank, Johannesburg, and has 2-10 employees, with Zaheer Dindar as co-founder and CEO and Fazlur Pandor as co-founder and CPO.

Business model

Pumpkn originates and underwrites short-term credit facilities to established agri and food SMEs, disbursing funds directly to borrowers' suppliers against invoices and recovering principal plus interest and fees over one- to six-month terms. It also positions its data-driven credit assessment as a service to lenders seeking to identify bankable agribusinesses and manage loan portfolios.

Interest and fee income on loans. Published representative terms indicate 3% per month interest on the reducing balance plus a 2% origination fee on principal for first-time clients, which is capitalised into the loan balance; on a R250,000 facility over six months this produces total cost of credit of R32,430 (R5,000 fee plus R27,430 interest). An investor portfolio listing reports gross revenue (interest and non-interest) of 66% on deployed capital and a net interest margin of approximately 49%.

Traction

An investor portfolio listing reports more than 200 loans issued, non-performing loans of approximately 5%, borrower retention of 70%, and an average of five loans per SME, alongside gross revenue of 66% on deployed capital and a net interest margin of roughly 49%. Press coverage cites a stated ambition to facilitate over $1 billion in financing to more than 150,000 African SMEs by 2030. Client testimonials come from South African fresh produce and food production businesses.

Latest developments

In July 2024 Pumpkn announced investment from Renew Capital, described by the investor as its first deal in South Africa. The company's website currently markets short-term working capital of up to R5 million with a 48-hour preliminary decision and five-business-day disbursement, and it is listed as operating by StartupList Africa and as a pilot-stage portfolio company by Loyal VC.