ProducePay secures USD 38M in Series D funding

ProducePay, headquartered in Los Angeles, CA, has successfully concluded its Series D funding round, raising a notable $38 million. Leading the investment was Syngenta Group Ventures, joined by new investor CF Private Equity, alongside existing backers G2 Venture Partners, Anterra Capital, Astanor Ventures, Endeavor8, Avenue Venture Opportunities, Avenue Sustainable Solutions, and Red Bear Angels. This funding marks a significant milestone for ProducePay, as it sets its sights on expanding globally and enhancing its technological capabilities.

Founded by Pablo Borquez Schwarzbeck and led by CEO Patrick McCullough, ProducePay has carved a niche in the agricultural technology sector with its predictable commerce platform. This platform empowers growers and buyers by providing them with access to essential resources such as capital, trading opportunities, insights, and supply chain visibility, thereby revolutionizing the dynamics of the fresh produce industry.

The infusion of $38 million in Series D funding will play a pivotal role in driving ProducePay’s ambitious expansion plans. With aspirations to penetrate markets across Europe, Asia, Africa, and Australia, ProducePay is poised to strengthen its foothold as a global leader in agtech. Additionally, the funding will fuel the development of advanced technology and services, including the creation of comprehensive Predictable Commerce Programs tailored to address the specific needs of stakeholders in the fresh produce ecosystem.

CEO Patrick McCullough expressed appreciation for the support of investors, highlighting their confidence in ProducePay’s vision and trajectory. He emphasized the company’s commitment to enabling growers, marketers, and retailers worldwide to navigate industry volatilities effectively, while also tackling the significant economic and food waste challenges prevalent throughout the supply chain.