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FT Partners Advises ProducePay on its $43 million Series C Financing

Overview of Transaction

  • On May 20, 2021, ProducePay, a financing, analytics, and marketplace startup bringing transparency, predictability, and fairness to the global fresh produce market, announced a $43 million Series C funding round
  • The round was co-led by Silicon Valley-based G2VP, IFC (International Finance Corp.) and IDB Invest, a member of the IDB Group
  • Other participants in the round included current investors Anterra Capital and Coventure, and new investors Astanor Ventures, IGNIA, and Finistere
  • Headquartered in Los Angeles, California, ProducePay’s product suite includes grower financing, market pricing data and analytics, and a marketplace for growers, distributors, and suppliers
  • ProducePay, which has financed $3 billion of produce across 12 countries in North and South America, saw 2020 revenue double despite the Covid-19 pandemic
  • This makes the Company one of the largest players in the region’s fresh produce market

Significance of Transaction

  • ProducePay will use the new capital to invest in technology development and infrastructure, grow its direct sales team, and further expand throughout Latin America
  • The funding brings ProducePay to over $300 million raised in debt and equity funding since its founding in 2014

FT Partners' Role

  • FT Partners served as the exclusive strategic and financial advisor to ProducePay
  • This transaction highlights FT Partners’ deep domain expertise in the Lending Tech sector, and builds on its successful track record generating highly favorable outcomes for high-growth FinTech companies globally