Global Account Lima Technologies, a B2B agriculture startup based in Kenya, plays a critical role in the global food supply chain. They work with farmers to aggregate, pack, and store produce, connecting them with reliable international buyers.
The challenge
According to Lawrence Njihia, CEO of Lima Technologies, payments were a significant source of friction that hampered their growth.
"There was quite a lot of friction on payments before, this includes delays. A customer says they've sent a transaction, but it takes about a week before it gets to you, that impacts your operations."
Beyond the delays, another major constraint was the rigid structure of traditional banking systems. "We all know that the SWIFT systems and the RTGS systems have certain cut-off timelines," Jahia notes. This meant that any payment activity related to the global agriculture trade which often requires sourcing and transacting overnight. This was difficult to manage outside a narrow time window. The nature of their business, which demands constant operation, clashed directly with the strict time limits of traditional finance.
The approach and methodology
Lima Technologies partnered with Verto to streamline its B2B cross-border payment processes, focusing on two key capabilities: instant collections and enhanced payment tracking.
The Verto team's commitment to customer success ensured a smooth transition. Chris Mwanda, who handles sales and partnerships at Verto, emphasizes the hands-on approach. "We do a lot of hand-holding. So essentially, we walk the client all the way through, getting them onboarded, the KYC, and the compliance that's needed."
Verto significantly improved Lima Technologies' ability to receive customer payments with greater speed and real-time visibility by offering:
Access to local and global business accounts where customers could transfer funds in 49+ currencies in minutes, not days, drastically improving cash flow
Highly competitive foreign exchange (FX) rates that helped Lima reduce offer better rates to the farmers
Dealing with 15,000 farmers who were earlier not aware that they can have access to multiple corridors can now access the Verto platform that services the corridors they want to deal with and cuts the CAC by 35%. It puts them on the map, creates a connected supply chain, and reduces friction between the demand and supply of the produce.
The result: Instant collections and real-time visibility
For Lima Technologies, the key difference provided by Verto was the level of detail and transparency in the payment process.
"The key difference for us as Lima Technologies for B2B payments partner is real-time visibility on how money is moving," says Jahia. While most partners only provide a notification when the money lands, Verto offers a full journey perspective. "Being able to track the progress of the money once a transaction is initiated, in progress, and complete is very important."
The partnership was a natural fit, aligning Lima’s mission to connect farmers to global markets with Verto's goal of streamlining global payments. As Chris Mwanda states: "It aligns a lot with what Verto's mission is. And we're streamlining payments for anyone who's trying to go global, grow their business, export new verticals."
By integrating Verto, Lima Technologies has successfully overcome historical payment friction, allowing them to scale their operations, serve their vast network of farmers, and execute international trade with greater speed and visibility, ultimately enhancing their operational excellence and accelerating their growth on the global stage. Using Verto’s capabilities, Lawrence aims to build a larger network of 50,000 farmers and service the demand of buyers with increased volumes while also branching out to generate extra revenue with longer shelf-life products.
Lawrence described his relationship with Verto as "Endless possibilities, disruptive and supportive," values which Verto aims to uphold for Lima technologies and all its clients.
