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