ProducePay, a Los Angeles, CA-based agtech company, raised $38M in Series D funding.
The round was led by Syngenta Group Ventures, with participation from new investor CF Private Equity, as well as existing investors G2 Venture Partners, Anterra Capital, Astanor Ventures, Endeavor8, Avenue Venture Opportunities, Avenue Sustainable Solutions, and Red Bear Angels.
The company intends to use the funds to accelerate its global expansion to Europe, Asia, Africa and Australia; as well as advance the development of technology and services, including comprehensive Predictable Commerce Programs in partnership with leaders and innovators across the global fresh produce industry.
Founded by Pablo Borquez Schwarzbeck and led by Patrick McCullough, chief executive officer, ProducePay provides a predictable commerce platform that is giving growers and buyers control of their business by offering access to each other, capital, trading, insights and supply chain visibility.
To date, the company has supported more than $4.5 Billion in fresh produce transactions globally.
Commenting on the news, CEO Patrick McCullough said “Our exponential growth and global scalability attracted a best-in-class group of investors who valued the company at a significant up-round from our last funding. We appreciate their support as we take ProducePay to the next level of helping growers, marketers and retailers around the world expertly manage these volatilities to avoid disruption of their business – while reducing the massive amount of economic and food waste that impacts every touch point across the supply chain.”
FinSMEs
05/02/2024