ProducePay is a new tech-based cash flow solution that provides domestic and foreign fresh produce farmers (growers) who ship to the U.S. with immediate access to distribution and financing.
ProducePay's solutions provide the working capital fresh-produce growers’ need to complete their harvest and grow.
ProducePay was founded in 2014 by Pablo Borquez Schwarzbeck and Benjamin Dusastre. The company is based in Los Angeles, California.
ProducePay’s product suite includes grower financing, market pricing data and analytics, and a marketplace for growers, distributors, and suppliers. It offers growers financing at every stage of the harvest cycle, with flexible payment terms, access to funding in two weeks or less, and no obligation to pay until produce ships.
ProducePay’s Insights and InsightsPro platforms provides unprecedented access to real-time produce pricing data and analytics. The Market Pricing Data and Analytics platform is used by more than 10,000 growers and distributor.
ProducePay Preferred Network makes it easier and less risky for participants in the fresh produce supply chain to find each other, bringing together a fragmented marketplace spread across a huge geographic area.
ProducePay has financed $3 billion of produce across 12 countries in North and South America. Its Produce Grower, Distributor, and Supplier Marketplace has more than 700 vetted growers and distributors.
ProducePay is backed by G2VP, IFC, IDB Invest, CoVenture, Anterra Capital, Arena Ventures, Astanor Ventures, IGNIA and others. The company raised $43M in Series C round on May 20, 2021. This brings ProducePay's total funding to $342.9M to date.