What can Syndex do for farming families?

Farming families have faced uncertainty in regards to succession planning and/or funding a growth strategy until now. Ross Verry, CEO Syndex, talks about how the fintech platform is solving these issues and making raising capital a real possibility.

[transcript] “Syndex is solving a number of problems for farming families, the first one being the succession of ownership and transition. For example a mum and dad may wish to retire and the next generation may not have the interest or the capacity to take over the farm. That potentially gives the mum and dad the only option of selling the farm which they may not want to do; it’s an asset that they know and understand well, it’s been delivering good returns and they have a lot of personal attachment.

What Syndex can do is give the farming family the option to sell a portion of that farm and introduce new external investors who will bring some capital and may also be able to operate with them. That leaves the farming family with an ongoing shareholding in an asset they know and understand well, receive a return, and enables them to extract some capital to retire in the manner that they wish to.

The second issue that Syndex solves for farming families is access to capital for growth. The family may have a strategy to grow their business, but lack the capital to do this even though they have the operational capability. What they can now do is present the opportunity on Syndex for external investors to share in that growth strategy - maybe [acquire] more land, new infrastructure or technology.

All this comes with the comfort that there will be a commitment to good governance and ongoing operational and financial reporting, so they will have good background information to make an initial investment decision.

This is potentially a real win-win for both the farming family and the external investors who have the opportunity to invest alongside some proven operators in the agricultural sector.”

Ross Verry

Ross Verry is CEO of Syndex and a shareholder. The views expressed above are purely his own. Please assess and research all your investment.