Since Pablo Borquez Schwarzbeck launched ProducePay in 2014, the farmer-aimed platform has drawn $6.4 million of total equity funding from 15 investors in four funding rounds. On a mission to help farmers feed the world, the Los Angeles-based company is developing online payment solutions for growers and distributors and provides a partner matchmaking platform.
The core product is ProducePay Online: a collaboration and visibility platform where ProducePay’s cashflow solutions work. It allows users to control quality, sales prices, and shipment status, all in real time. Quality metrics and active distributors and crops are available through a Shipment Dashboard, while the system sends automated email notifications on business-critical activity like shipment status changes, new payment advances, and final payment. The platform is based in the cloud and is accessible entirely online.
ProducePay’s Next Day Advance, an advance payment solution, allows growers to get up to half of a shipment’s value the day the shipment is accepted by their distributor via ProducePay Online. Pre-Season Advance is a solution that handles early cashflow for qualified new and returning growers.
The company also provides a partner matching service that connects US distributors, shippers, and marketers with fresh produce growers in the US and abroad.
Essentially, ProducePay specialise in payment solutions for farmers and distributors by acting as intermediaries for volume deals and by pre-screening distributors, agents, and farmers to comply with US federal legislation.
By Kiril V. Kirilov
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