Zaheer Dindar

In the fertile lands of Limpopo, South Africa, Thembuluwo (Thembu) dreamed of building something greater than himself – a farm that would sustain his family, create jobs and contribute to the country’s food supply. Having worked on his parents’ farm since 2010, he was given a small piece of land in 2014 to start his own venture. By 2019, his business, Caroline Farming and Trading, had grown into a fully registered agricultural enterprise, producing tomatoes, maize, butternuts, okra, and watermelon.

When Thembu secured a contract from a large food producer, he saw an opportunity to scale his farm to the next level. However, like many non-commercial farmers, he faced a common challenge: Access to capital. The funds needed to invest in new land, high-quality seeds, fertilizers, and improved infrastructure were beyond his immediate reach. That’s when Pumpkn stepped in to help bridge the gap.

With Pumpkn’s support, Thembu was able to secure the funding needed to expand his farm, opening up new land and investing in high-quality inputs. This financial assistance allowed him to increase production capacity and fulfill a growing demand. Thembu sees this as a pivotal moment in his farming journey – one that has set him on a path toward greater stability and growth.

For Pumpkn’s co-founder and CEO, Zaheer Dindar, stories like this are what fuel his mission. “We are obsessed with getting capital into small businesses. Capital needs to flow because SMEs are the backbone of our economy,” he explains. “But traditional lenders often struggle to work with them. The language of banking is built for big businesses, and we want to change that. Instead of forcing SMEs to fit into the rigid mold of traditional lenders, we meet them where they are.”

Founded by Zaheer, along with Jérôme van Innis and Fazlur Pandor, Pumpkn is tackling one of Africa’s biggest economic challenges: access to finance for small businesses. In just 12 months, the company has already facilitated over 160 loans, with 40 active clients at any given time. More impressively, their non-performing loan rate sits below 2%, demonstrating the effectiveness of their data-driven approach to lending.

“Our goal is to be more than just lenders,” Zaheer explains. “We act as a conduit between SMEs and larger financial institutions, translating raw business data into actionable investment decisions. This makes it easier for traditional lenders to work with SMEs and vice versa. We’re removing the barriers that keep small businesses from accessing the capital they need.”

Pumpkn’s innovative funding model ensures that SMEs can scale gradually, following what they call a ‘Funding Ladder.’ Entrepreneurs start with smaller short-term loans and, as they successfully repay, gain access to larger, more long-term financing. The approach ensures sustainability, allowing businesses to grow at a pace they can handle without being crippled by debt.

Zaheer’s journey to launching Pumpkn began in the world of banking and strategy consulting. He and his Belgian co-founder, Jérôme, first met while working on agricultural development projects in Ethiopia. They both met their third counterpart – Fazlur Pandor – when he knocked on their business’ door to access growth capital. Their experience on the ground made them acutely aware of how difficult it was for African SMEs to access financing. “In South Africa, we have massive income inequality,” Zaheer explains. “For me, bridging that gap became a fundamental motivation. How do we leverage the infrastructure of the first-world economy that exists in South Africa to uplift the other economy that struggles to access capital?”

The answer, they found, was in agriculture. “Agriculture is one of the most dynamic and labor-intensive sectors in Africa,” says Zaheer. “It brings together farmers, scientists, bankers, and entrepreneurs. If we can strengthen SMEs in this space, we’re not just funding businesses – we’re creating jobs, stabilizing food supply chains, and growing entire communities.”

Pumpkn’s success has not gone unnoticed. Recently, the company secured investment from Acasia Ventures, a move that signals confidence in its model and future expansion. “Acasia Ventures’ experience in other African markets, particularly in Egypt, is incredibly valuable. They can help us identify the right expansion opportunities and refine our approach as we scale,” Zaheer notes.

Biola Alabi, General Partner at Acasia Ventures, states: “What excites us most about this investment is that it channels capital to individuals who have long been excluded from meaningful economic participation, particularly those disadvantaged from past programs. Pumpkn’s approach is not only commercially sound but also deeply aligned with our commitment to inclusive economic development. We are proud to back a team that is driving tangible impact where it is most needed.”

With its commitment to trust, growth, and people, Pumpkn is definitely changing how SMEs access capital, but more importantly, it’s changing lives. For entrepreneurs and farmers like Thembu, it’s the difference between struggling to keep up and seizing opportunities for real growth. As Pumpkn continues to grow, its impact on the African SME landscape is only beginning. By reimagining what lending can look like for small businesses, the company is paving the way for a future where access to capital is not a privilege, but a given for every entrepreneur ready to build something great.