Jason: Ever wish you could pay for stuff like
after you get paid? Not before. Oh,
Janet: Tell me about
Jason: It.
Right. Like that'd be, I don't know, life changing for sure.
Janet: For sure.
Jason: That's kind of what this company Tarfin,
it's an ag tech company in Turkey.
That's what they're doing for farmers over there.
Janet: Interesting.
Jason: Yeah. So we're like diving deep today
into how they're making it.
So farmers can pay for all their surprise,
but like not until after they harvest and sell their crops.
Janet: So instead of having to shell out months in advance.
Right. Yeah. That's huge.
I, I mean just thinking about the cashflow aspect alone,
Jason: Right?
That's what I was thinking. Yeah. And their website,
it really lays it all out like super simply how it works.
So it's all app based. Okay.
You can compare prices from a bunch
of different suppliers, all local really
Janet: Order what you need and then once you've sold your
harvest, that's when you pay tarpin back.
Jason: Interesting. So it's really taking the pressure off
that initial investment phase. Totally.
Janet: Yeah. I mean just thinking if you were a farmer, right?
Yeah. How would that cha, like how you do things? Mm-Hmm.
would you be, I don't know, bolder, maybe more likely
to try a new crop maybe.
Jason: Absolutely. You're not as tied to those upfront costs.
It's like it frees you up to, you know,
maybe take a chance on something new
or even just like invest in those higher quality supplies
you might not have been able to afford otherwise. Yeah.
Janet: Yeah. 'cause if you know, you don't have to pay
until you've actually got money coming
Jason: In.
Exactly. It's all about that cash flow,
Janet: Right.
It totally changes the game.
So walk me through this a bit more.
Like how similar is this
to say other buy now, pay later stuff we see?
Jason: Well yeah, it's got that kind of DNA, you know,
that delayed payment thing, right?
Right. But this, this has that agricultural spin on it.
Obviously it's less about buying something 'cause you see it
and want it now and more about, I don't know,
managing when farmers actually get their income,
which is obviously seasonal. Yeah.
Janet: Makes sense. Because
Jason: Think about it, if you get some consumer
credit, buy some new gadget.
Mm. They don't care if that gadget helps you earn more.
Right. You still gotta pay true. Right.
But Tarfin, they've tied it to the actual harvest. Yeah.
Like your success is their success kind of.
Janet: It's almost like a partnership then in a way. In
Jason: A way.
Yeah. Got it.
Janet: Speaking of success, they've got some big
numbers on their website.
Over 61,000 farmers. Wow. Yeah.
And like millions of hectares of land impacted by this.
Jason: That is not insignificant. 61,000 farmers.
That's a pretty sizable chunk I'd imagine. Oh.
Of Turkish agriculture. Right.
Janet: It's not just some like small experiment,
Jason: Especially when you think about how tech
sometimes it takes a while
to catch on in those more traditional
industries, you know what I mean? Yeah,
Janet: Absolutely.
It makes you wonder though. What's the feedback been
like directly from the farmers? Well,
Jason: Funny you should mention that they've got this quote right
from a farmer guy named MOK.
Janet: Okay.
Jason: And it's not just on their once,
it's on their website twice.
So you know they want people to see it. Yeah.
Janet: They're putting it front and center
Jason: And he talks about how much he likes being able to pay
after the harvest, which makes sense of course.
But then also having access
to these like name brand quality supplies
but still being affordable.
Okay. So sounds like those are his big wins. So
Janet: It's hitting all the right notes then.
Jason: Seems like it.
Janet: Are those like universal
farmer problems though?
Or is that more of a Turkey specific thing?
Jason: That's what I'm curious about.
Janet: So many questions. But like Tarfin
isn't just stopping there, right?
With this whole like core model. Right.
Their website mentions all
this other stuff they're doing too.
Like this income protected package. Oh
Jason: Yeah. I saw
Janet: It sounds kind of wild.
Like too good to be true almost.
Jason: Yeah, it's ambitious. What they're talking about is
basically like protecting farmers
from those price swings we see.
Janet: Oh you mean like with the crops themselves?
Jason: Exactly. Because those prices can be all over the place.
Right? Totally. So imagine if you as a farmer didn't have
to worry so much about that.
Like it takes away some of the risk.
Janet: That'd be huge. Could totally change how you plan
for the next season even.
Right? For sure. Okay. That's one thing.
Then they've got Tarfin Pro too, right? Mm-Hmm .
And from what I gathered,
it's like they're not just helping out
individual farmers anymore.
They're going bigger like whole businesses.
Jason: Exactly. So you know
how we were saying it's kinda like a
partnership before? Yeah.
Janet: Yeah.
Jason: Now it's like they wanna work
with the whole supply chain almost.
Not just here's your loan farmer. It's more involved. So
Janet: It's less about just facilitating a
transaction, more about like
Jason: Building a whole system.
Yeah. Yeah. And this move from individual loans
to supporting like these small
and medium enterprises. I mean that's a statement.
Janet: It's a whole other ball game for sure.
And it's not like they're hurting for cash or anything
'cause they got a bunch of funding, right?
Yeah. Through those lease certificates. Oh
Jason: Yeah.
Big money too. Which
Janet: I mean that says something, right?
Like investors must have some faith in what Tarpon's doing.
Jason: Absolutely. It. So they're not just a
flash in the pan, you know?
Mm. People see the long game here. The potential.
Janet: Okay, so I gotta ask though,
'cause everything sounds great so far.
Jason: Uhoh, what's the catch?
Janet: Right? Like there's gotta be something, right?
It can't all be sunshine and roses.
What are we like not seeing here?
Jason: Well you always have to think about those things. Yeah.
Even with the best intentions. Totally.
So one thing that comes to mind, like immediately
technology, not every farmer
has the latest smartphone. Right? That's
Janet: True.
Especially out in more rural areas.
I imagine even if they've got a smartphone,
the internet might not always be reliable.
Jason: Exactly. And yeah, sure.
Tarpon's got this slick app, it's user friendly. Right?
Right. But what if you don't even have that reliable access
or if you're someone who you know,
technology isn't there a strong suit
Janet: That digital divide is a real
thing and not just in farming.
Right? Totally. Yeah.
Jason: So are they just leaving those farmers behind
or do they have other options?
Like maybe some offline solutions?
I don't know, to make sure everyone can benefit.
That's something I think about. Yeah,
Janet: Definitely.
Because even with access, even if you solve that, yeah,
there's still the money side of things, right?
Jason: Oh for sure. Financial literacy huge
Janet: Because they're making credit so easy to get.
Right? Could that backfire?
Like farmers getting in over their heads,
debt they can't handle. It's
Jason: A risk for sure.
I mean Tarfin says they're all about responsible lending,
which you know, hopefully they are right.
But you're always gonna have that risk
with any financial product. Right?
Janet: Especially in agriculture.
I mean so much of it is unpredictable.
Jason: Exactly. One bad season, who knows.
So yeah, it's great if they make it easy
to get funding, but they've gotta
Janet: Educate people too.
Jason: A hundred percent. Make sure farmers know
what they're signing up for.
All the ins and outs, the potential downsides.
Janet: So there's a balance there, right?
Like you wanna encourage innovation, but I
Jason: Protect people too.
Janet: Especially the people you're supposed to be helping.
Jason: Exactly. And
that actually makes me think about something else about
scaling all this up. Oh right,
Janet: Yeah.
Taking it beyond Turkey
Jason: Because you know, this model,
it seems almost tailor made for them, right?
Janet: Yeah. Makes sense for how things work over there.
Jason: But what about somewhere else? Different countries?
'cause farming's not the same everywhere, right?
Janet: Totally not. Mm-Hmm. .
Different crops, different climates.
Jason: Exactly. Plus you got different
rules about all this stuff.
The financial side. Even just like culturally,
how people view debt can be totally different.
Janet: Yeah, good point.
Jason: So what works in Turkey?
No guarantees is gonna fly somewhere else. Yeah. You
Janet: Know?
Oh for sure. Like a direct copy paste. Probably not. So
Jason: That's the challenge for them, right?
If they want to go global. So you
Janet: Gotta figure out how to adapt.
Jason: And it's not just the tech either, right?
Janet: It's about really understanding
Jason: What the The lay of the land.
Yeah. Before you even get to the tech. Mm-Hmm .
Talk to the people on the ground,
figure out the local challenges, the opportunities. Because
Janet: A solution in one place could
Jason: Be a problem in another.
Janet: Right? So it's almost like they've gotta what?
Like stick to their principles but also be ready to pivot.
Jason: Yeah, I like that.
Janet: Yeah.
Pivot, adapt, you know, whatever the word is
Jason: Because they've gotta stay true to what they're about,
but also be
Janet: Flexible enough to make it work somewhere new.
Jason: Exactly.
Janet: It's a tough line to walk for sure.
So as we've been like going through all this,
what's really standing out to you?
Jason: You know, it's easy to get lost in the weeds, right? ?
Like with all the tech talk and the numbers, it's
Janet: Easy to get caught up in all that, right?
Yeah. All the data.
But we gotta remember this is about actual
people, you know? Yeah.
Jason: They're livelihoods. Exactly.
It's not just some like theoretical
tech problem they're solving.
Right? Right. Yeah. This is about understanding
what Turkish farmers need, what they're up against, right.
And giving them a way to like actually succeed. It's
Janet: Kind of cool actually.
Like you've got these big global companies
doing their thing, right?
Right. But then here's Tarfin coming in
and they're making a difference
by focusing on something super specific.
You know, like a local
Jason: Challenge.
And that's often where the best
innovation comes from, right?
Janet: Totally. But how you even measure that.
Like how do we know they're making an impact?
What's the takeaway here?
Jason: Well first off, you gotta remember cash flow is
everything in farming.
And Tarfin, they didn't try to work around that.
They built their whole thing on it. Instead
Janet: Of fighting the system, they
Jason: Embraced it.
They said, okay, farmers get paid after harvest.
That's our starting point. And that's huge.
Janet: It is. 'cause for so long, it's like people were trying
to force farming to fit into like a different mold.
Jason: A hundred percent. Yeah.
And it just doesn't work like that. Yeah.
Janet: Nope. And the other thing that's really coming
through I think is just how powerful technology can be,
even in a field like
agriculture, which has been around forever,
Jason: Right?
But it's how you use it.
Tarfin, they made their tech user friendly, which is key.
If you're trying to help people who, you know,
maybe they're not all tech wizards, some
Janet: People just wanna farm, you know, .
Jason: Exactly. . So you meet them where they are,
give 'em the tools that make sense, and
Janet: Hopefully make their lives a
little bit easier in the process.
That's the goal. Okay. But the big question I have now is,
can this even work anywhere else?
Or is this like so specific to Turkey
that it's never gonna fly somewhere else?
Jason: Million dollar question, right? Yeah. And yeah, sure.
Some things they might need to tweak
Janet: 'em different places, different rules, right?
Jason: Exactly. But the big stuff like fixing the cashflow,
problem making things more transparent,
giving farmers more control.
That's universal. So
Janet: It's like they've created a template almost. Yeah.
Jason: Like a blueprint, but you gotta
adjust for the local conditions.
You know what I mean? Customize it. Exactly.
Janet: So really it's about understanding that taking something
to a new place, it's not just about like dropping
it in and hoping for the best.
Jason: Right? It's about, I don't know,
almost like translating it.
Yeah. Adapting it so it makes sense in that new environment.
Janet: So if we had to sum all this up,
give our listener like one big takeaway from our Tarfin deep
dive, what would it be?
Jason: Ooh, that's a good one.
I think for me it comes down to this
tech is great, can do amazing things.
Janet: Obviously we're big fans,
Jason: Huge fans, but it's only as good
as the people using it, right?
And the impact that has on their lives.
And I think Tarfin gets that.
Janet: That's a perfect way to put it.
It's a good reminder that even as tech gets like more
and more advanced, if you will.
Oh for sure. We can't forget about the human side of things.
So as we wrap up our deep dive into
Tarfin, we'll leave you with this.
How can we use technology to build a better future?
Not just for some, but for everyone. Think about it.
Keep asking those questions.
And until next time, happy diving.