Farmers are often challenged by their cash flows. They grow their produce, ship out their product and have to wait for the cash to return. This often takes 30-45 days. However, they need instant cash to grow the next cycle to remain productive. Fresh produce farmers are the ones challenged the most. But NO MORE.
ProducePay is offering various financing solutions for the farmers to be paid the day after they ship instead of 30-45 days cycle. They can instantly work on their next produce. The solution also helps distributors since they don’t have to take the burden for advance payments to get the produce.
Produce Pay recently raised $77 Mil in equity and debt financing to scale the business. The hybrid innovation in FinTech and AgriTech solves alot of grave problems for farmers, distributors and customers.
- Alternate financing is a great help to farmers who must sell their crops due to the risk of being perished.
- Produce Pay is creating new relationships between farmers and customers because of easy and innovative financing solutions.
- Produce Pay is helping farmers avoid putting their farms as collateral against money. Instead their produce is used as collateral.
At Virtual Force, we are proud to support Produce Pay in their early years as their Tech partners. Working together building the idea from scratch into an MVP and later a fully working product had been a great experience.
“Virtual Force undertook the very challenging task of building our payment platform from scratch, head on. We were faced with very tight time constraints, while working remotely and despite many challenges, VF managed to create an amazing end-product that far exceeded our expectations. The work ethic is superb, management impressive, and communication admirable. VF team is flexible and can think on their feet when on a bind ”, Pablo Borquez, Cofounder Produce Pay.