“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. “We remove these pain points to provide transparency, predictability, and fairness for both growers and distributors throughout the entire produce value chain, from seed to sale.”

LOS ANGELES, May 20, 2021 (GLOBE NEWSWIRE) — ProducePay, 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 round was led by Silicon Valley-based G2VP, and co-led by IFC (International Finance Corp.) and IDB Invest (part of the Inter-American Development Bank Group). Other participants in the round included current investors Anterra Capital and Coventure and new investors Astanor Ventures, IGNIA, and Finistere.