From Forest to Table: Fuelling Growth at the Root in North Macedonia
Thanks to Extra Fungi, families not only in Kočani but all across North Macedonia—and even throughout Europe—can enjoy premium, locally sourced wild mushrooms and fresh vegetables all year round. What started in a small town just east of the capital has grown into a trusted name far beyond its borders.
The region’s significance in mushroom harvesting stems from its status as a biodiversity hotspot in the Balkan Peninsula, home to over 16,000 wild species of bacteria, plants, moss, and fungi [1]. With agribusiness and food processing serving as major economic drivers in the region, companies like Ekstra Fungi are cultivating, foraging, drying, freezing, pickling, and exporting high-quality mushrooms to international markets, contributing to the sector’s growth and development.
Ekstra Fungi was founded as a small family business in 2005. Under Sashko Antovski’s leadership, the company began the primary activity of buying out and processing forest mushrooms in their own full-scale, modernized production facilities. Working with AGC’s partner, Ekstra Fungi benefits from factoring services that provide immediate liquidity against their invoices, enabling them to pay suppliers promptly, invest in quality assurance, and expand their operations without relying on traditionally slow bank loans. In North Macedonia, despite SMEs accounting for 80% of all businesses, small businesses remain underserved by local commercial financial institutions, and they often struggle with gaining access to financing options [2].
In the past, Ekstra Fungi faced challenges with cash flow and struggled to expand production capacity to meet the growing demand for its high-quality products. Ekstra Fungi’s relationship with AGC’s partner was a key component in overcoming these hurdles and unlocking funding solutions that helped them improve their cash flow stability. “Thanks to the support from [AGC and their partner], we have been able to focus on growing our business and building stronger relationships with both suppliers and clients. Immediate access to working capital has made a real difference in our ability to seize new opportunities,” Sashko shares.
Thanks to the support from [AGC and their partner], we have been able to focus on growing our business and building stronger relationships with both suppliers and clients. Immediate access to working capital has made a real difference in our ability to seize new opportunities.
– Sashko Antovski.
Stabilized business operations allowed Ekstra Fungi to build supplier loyalty by ensuring timely payments and to expand their client portfolio across Europe. By working with approximately 30 small-scale local foragers and farmers as well as fostering relationships with foreign suppliers, they’ve secured a continuous supply of fresh and wild mushrooms. This demonstrates the ways in which working capital can impact small businesses like theirs and locally mobilize economic growth throughout communities.
Ekstra Fungi employs around 35 full-time workers, with women representing the majority of roles across production, mushroom sorting, packaging, quality control, and administrative tasks. To meet consumer demands, they further scaled up their business by sourcing fresh ingredients to diversify their product lineup and include canned assortments of mixed forest mushrooms such as Morchella, as well as frozen chanterelles, dried porcini mushrooms, and other morels.
To gain additional access to these communities, Ekstra Fungi leverages partnership programs that expand their visibility and reach. The company supports more than 75 active clients, mostly international, including food distributors, specialty shops, and wholesalers. Their client base is primarily made of SMEs in the food and hospitality sectors, with their products now available through several key partners: Voli, a Montenegrin wholesale retailer; Kendy, a distributor from North Macedonia, whose mission and program offers quality food brands that are beneficial to the health of North Macedonian communities; and AllRestaurants, a platform focused on building networks between restaurants and food companies worldwide.
Our partner’s relationship with Ekstra Fungi went beyond financing, eventually empowering them to focus on what they do best — offer fresh, customizable, and nutritious meal options to busy individuals, students, and office workers. Today, the company uses a new cooling and processing facility with all modern standards, increasing production activities of their fruits and vegetable products, revolutionizing convenience foods, and promoting health and wellness with every bite. This earthy product, gathered by hand and shared across borders, is more than just food; it’s a symbol of how small businesses can thrive when given the tools to grow sustainably and cultivate long-term relationships that empower communities and economies alike.
1 https://advanceglobalcap.sharepoint.com/sites/Marketing/Shared Documents/3. INTERNAL/Case Studies/FaktorTrust/Ekstra Fungi/Red Lists: Gauging the force of nature in North Macedonia. UN Environment Program. Accessed May 5, 2025. https:/www.unep.org/news-and-stories/story/red-lists-gauging-force-nature-north-macedonia?
2 https://advanceglobalcap.sharepoint.com/sites/Marketing/Shared Documents/3. INTERNAL/Case Studies/FaktorTrust/Ekstra Fungi/Funding opportunities for private companies. Delegation of the European Union to North Macedonia. Accessed May 5, 2025. https:/www.eeas.europa.eu/delegations/north-macedonia/funding-opportunities-private-companies-%E2%80%93-check-out_en?s=229
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