ProducePay Raises $43 Million in Series C Equity Funding to Help Growers and Distributors Thrive in the Global $300 Billion Fresh Produce Industry
Summary
LOS ANGELES, May 20, 2021 (GLOBE NEWSWIRE) -- , a financing, analytics, and marketplace startup bringing transparency, predictability, and fairness to the global fresh produce market, today announced a $43 million Series C funding round. “The global fresh produce market is opaque, fragmented, and dominated by manual processes, and these obstacles make it difficult for growers and distributors to thrive,” said Pablo Borquez Schwarzbeck, co-founder and CEO at ProducePay. Aggregating data from individual growers and distributors, along with public, private, and proprietary sources, ProducePay brings much needed pricing transparency to the produce industry. “We’re proud to join ProducePay in supporting growers and distributors that promote fair labor practices, environmental care, and meaningful community engagement,” said Juan Gonzalo Flores, Mexico Country Manager at IFC. As this trend takes root, and industries worldwide transition from traditional analog to digital processes, G2VP sees tremendous opportunity for value creation, economic growth, and sector disruption.