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ProducePay
Personal finance for produce growers
- 201-500 employees
- Fintech
- B2B
- Marketplace
- Agriculture
- Financial Services
- SaaS
- 888 W 6th Street, Suite 200, Los Angeles, CA 90017
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Company mission
To empower farmers and growers to grow their businesses, supporting them from seed to sale.
30% employee growth in 12 months
Otta's take
Theo Margolius
COO of Otta
ProducePay offers financing, market data analytics and a marketplace for growers in the fresh produce industry in North and South America. Banks have traditionally been hesitant about financing produce farmers due to the perishability of their collateral, but ProducePay allows this group to access more growth opportunities by sourcing financing and trading partners.
The business was able to grow quickly since its 2014 launch thanks to founder Pablo Borquez Schwarzbeck’s network at Cornell University, and has since gone on to strike up partnerships with major distributors like Guimajo and Chucho Produce. By focusing on a customer base that is often overlooked, ProducePay's approach has seen success, and over $4 billion in produce has been transacted through ProducePay's marketplace.
The global fresh produce market is valued at $300 billion, but remains fraught with opacity and fragmentation, both problems which ProducePay is helping to solve. Further growth across Latin America will should reap rewards for the company, as will continued refinement of its tech solutions and direct sales teams.
Benefits
- Equity Stock Options
- Healthcare stipend for premium insurance after 6 months (contingent on performance)
- Adoption Assistance
- Professional Development Assistance
- Great work environment
- Opportunity to take on more responsibility and grow career within a rapidly growing startup
- Work-from-Home Stipend
- Pet Insurance
- Quarterly Volunteer Days
- Unlimited Paid-Time-Off
Funding (last 2 of 6 rounds)
Feb 2024
$38m
SERIES D
May 2021
$43m
SERIES C
$105.9m
Total funding
This company has top investors
Founders
Pablo worked in International Grower Relations for the Guimarra Companies and an Administrative Officer of Campos Borquez before an MBA at Cornell University. They founded ProducePay in September 2014, serving since as CEO.