ProducePay to Fuel Continued Global Growth with New Round of Funding
Combined raise of equity and new lending capacity totaling more than $140 million to support grower financing and digital platform expansion across Latin America, Europe, Northern Africa and North America
Los Angeles, CA –September 1, 2026 – ProducePay, the digital platform driving growth in the $1.5 trillion fresh produce industry, today announced it has successfully secured more than $140 million in new equity and finance capital to fuel continued global expansion of its financial solutions, digital platform development, and data and predictive analytics capabilities. The round has the potential to expand to $300 million.
“This raise marks a major milestone for ProducePay,” said Patrick McCullough, CEO of ProducePay. “With a strong financial foundation in place, we’re doubling down on our platform, helping forward-thinking agribusinesses invest, expand, and grow with confidence in an increasingly less predictable global trading environment.”
The equity round was led by Avenue Capital and Astanor.
“ProducePay is building critical infrastructure for a food system that is increasingly shaped by volatility, climate risk and growing global demand,” said George Powlick, Partner at Astanor. “By combining technology, data and financial solutions, ProducePay is creating greater transparency and predictability across the fresh produce supply chain. We’re excited to support the company as it scales its platform and helps growers and buyers build a more resilient and sustainable food system.”
“Avenue is pleased to support ProducePay as it scales its platform and expands access to capital and technology across the global fresh produce supply chain,” said Dan Holman, Senior Portfolio Manager at Avenue Capital. “ProducePay has built a differentiated platform that addresses both the capital needs and operational challenges of the global fresh produce industry. Its combination of financial solutions, supply chain visibility and data-driven technology creates a powerful foundation for helping growers and buyers navigate volatility and unlock growth.”
The company also concurrently announced the raise of a new lending fund supported by AgAide, Thiele Capital Management and Millennium Capital. The funds will be used to provide agribusinesses across the globe with capital to optimize and scale their operations.
“We’re proud to partner with ProducePay and to be invested in the company’s continued success,” said Matt Karahadian, Managing Member of AgAide.” We have confidence in its approach and the value and support it brings to the global agriculture industry.”
“Fresh produce is a massive global market with significant demand for reliable, flexible working capital,” said Alex Thiele, Chief Investment Officer at Thiele Capital Management. “ProducePay’s combination of supply chain data, technology and financing capabilities creates an innovative approach to addressing that need. We see a compelling opportunity to provide institutional capital to an asset class with strong underlying economic fundamentals while supporting the growth of businesses throughout the produce ecosystem.”
“As global demand for fresh and sustainable produce grows, more capital is needed to help growers and marketers expand, while minimizing the uncertainty and volatility that has historically held the fresh produce industry back, ” added McCullough. “With this new fund we’re unlocking industry-wide growth at a global scale with capital that is informed by decades of fresh produce experience.”
Driving growth through technology
With its new equity investment, ProducePay is focused on scaling its technology platform, which offers financial services, payments infrastructure, supply chain visibility, and on-farm insights. By connecting growers, marketers, and retailers through a unified system across the fresh produce supply chain, the company is helping reduce volatility, minimize food loss, and ensure consumers have access to high-quality produce year-round.
The equity capital will be used to expand platform capabilities, including enhancements to its Visibility solution—which enables real-time tracking of quality, location, and order management from farm to retail– and to accelerate adoption among leading agribusinesses worldwide. With greater investment in digital infrastructure, ProducePay aims to empower its customers to navigate market uncertainty and achieve long-term stability.
“Our mission has always been to bring transparency, predictability, and sustainability to this historically volatile industry,” McCullough said. “This capital lets us build faster and smarter—driving greater adoption of the tools and services that create lasting impact for growers and buyers alike.”
Data at the center of a new produce economy
At the heart of ProducePay’s innovation is data. As the largest connected network of growers and buyers in the world, the company is uniquely positioned to turn fragmented data into actionable intelligence—delivering transparency, predictability, and profitability across the supply chain.
“Fresh produce is one of the most dynamic, complex supply chains on earth,” McCullough said. “But up until now, it has never had a true data backbone—a way to organize and synthesize that knowledge in order to make informed decisions, predict behavior, and develop models and products to improve efficiency. We’re at the forefront of this trend.”
From on-farm performance and yield forecasting to shipment-level traceability and real-time quality metrics, the platform delivers powerful insights that drive better outcomes for every stakeholder in the supply chain.
Unlocking lower-cost capital at scale
The new financing round also signals growing institutional interest in ProducePay’s working capital financing model. As the company scales its technology and programs, it continues to attract new sources of capital that will allow it to offer lower-cost financing to growers around the world—helping them invest in their farms, manage risk, and unlock new growth.
“Our goal is to unlock liquidity for the fresh produce industry at scale,” McCullough added. “We’re laying the foundation to make fresh produce a legitimate asset class—one that delivers real impact for growers while offering financial institutions access to a new, diversified investment category.”
With deeper integration of payments, financing, visibility, and program management in a single platform, ProducePay is creating an operating system for the fresh produce industry, reducing friction and unlocking scalable liquidity. In doing so, the company is laying the groundwork to transform fresh produce into a new, asset-backed security: a profitable, ESG-aligned investment opportunity for the financial sector.
About ProducePay
Founded by Pablo Borquez Schwarzbeck, a fourth-generation farmer, ProducePay is eliminating the economic and food waste caused by the volatile, opaque and fragmented nature of today’s global fresh supply chain. The AgTech company’s platform is giving growers and buyers greater control of their business by providing unprecedented access to each other, capital, trading, insights and greater supply chain visibility. Consumers receive fresher produce more efficiently, knowing it is grown and delivered in responsible ways. This transformational approach is unlocking economic value and creating a more sustainable global fresh produce industry.
For more Information
Keely Wachs | ProducePay | keely@producepay.com