ThriveAgric raises ₦5.3bn in debut commercial paper under ₦50bn programme
- Value
- ₦5.3bn
- Date
- 25 August 2026
- Status
- Completed
- Transaction type
- Commercial Paper Programme
- Practice area
- Capital Markets
- Sector
- Agriculture
- Jurisdiction
- Nigeria
- Client
- ThriveAgric (Issuer)
Summary
ThriveAgric, a Nigerian agritech company backed by Y Combinator, raised ₦5.3bn in Series 1 of an SEC-approved ₦50bn commercial paper programme, above its ₦5bn target, announced at a signing in Lagos on 25 August 2026.
The company says the proceeds fund working capital to buy and aggregate produce from smallholder farmers for sale to food processors and FMCG off-takers, where turnover is faster than the production cycle.
Why it matters
A venture-backed company using the regulated debt market rather than equity, as early-stage equity funding in Nigeria contracts.
Scope of legal work
Legal counsel was not identified in the published announcements or filings reviewed by The Meridian. Aluko & Oyebode advised on the ₦50bn programme and Series 1 issuance, according to the firm's transaction record.
Advisers
Sources
Compiled by Meridian from the public announcements and filings listed under Sources.
- TechCabal, ThriveAgric commercial paper (25 August 2026)
- Aluko & Oyebode, firm transaction record (accessed October 2026)
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