Keeping up with its «purpose beyond brewing», a multiple brewing brands owner Anheuser Busch InBev decided to further empower global farming communities.
#Budweiser’s parent organization, the world’s largest beer company, through its investment division, ZX Ventures, has recently funded #BanQu in series A, a blockchain‐as‐a‐service (BaaS) software company.
BanQu uses the power of distributed ledger technology to help combat poverty around the globe. The startup was founded in 2015 with the mission to assist people that have no access to traditional financial system.
The startup connects global brands, financial services, governments and philanthropic organizations
According to BanQu’s press release, the partnership with the leading global brewer will help the tech trailblazer with geographic expansion and product development.
Till date, BanQu connected about 200,000 unbanked workers with organizations and companies further down the supply chains they are a part of through its blockchain non‐cryptocurrency platform.
The story of Anheuser‐Busch InBev and BanQu dates back to 2018 when the tech company successfully piloted its initiative for small‐holder cassava farmers in Zambia. Later on, a similar project was undertaken in Uganda and India. Brazil was the first country in LatAm and the fourth market where BanQu helped local farmers with access to financial services allowing them to steadily grow their businesses.
The startup has ambitious goals and plans to help 100 million of the poor people by 2023.