Funding round
ProducePay Series D
ProducePay, which works in fresh produce supply chain financing in Los Angeles, raised $38M in a Series D round announced on 5 Feb 2024, led by Syngenta Group Ventures. 10 firms took part, 7 of them already investors. It is ProducePay's fourth venture round on record; the one before was a Series C in May 2021.
$38M
Amount raised
Not disclosed
Post-money valuation
10
Investors
1 lead
Valuation
What this round says about the price
ProducePay did not disclose a valuation in this round. It came 33 months after ProducePay's Series C. It is 16% of the $238M ProducePay has raised in the venture rounds on record. ProducePay raised again 31 months later: a Growth round of $140M in Sep 2026.
ProducePay's funding rounds
ProducePay has 5 venture rounds on record and 2 other deals. This one is highlighted.
- Seed 29 Jun 2016 $2.5M
- Debt not a venture round 14 Mar 2017, led by Treville Capital Group $77M
- Series B 18 Oct 2018, led by Anterra Capital $14M
- Debt not a venture round 10 Dec 2019 $205M
- Series C 20 May 2021, led by G2 Venture Partners, International Finance Corporation and IDB Invest $43M
- Series D this round 5 Feb 2024, led by Syngenta Group Ventures $38M
- Growth 1 Sep 2026, led by Avenue Capital Group and Astanor $140M
Investors
Who put money in
Syngenta Group Ventures led the round with 9 other firms. CF Private Equity, G2 Venture Partners, Anterra and Astanor and 3 more had backed ProducePay before.
Lead investor
- Syngenta Group Ventures new investor
Also in the round
- Commonfund new investor
- Highgate Private Equity new investor
- backs 6 venture-backed companies existing investor
- backs 33 venture-backed companies existing investor
- backs 7 venture-backed companies existing investor
- backs 42 venture-backed companies existing investor
- backs 7 venture-backed companies existing investor
- backs 9 venture-backed companies existing investor
- backs 6 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 2 in Financial Services, then Series D rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Neo Financial Financial Services | 12 Nov 2024 | $258M | not disclosed | not named |
| Financial Services | 2 Dec 2024 | $135M | not disclosed | Accel |
| Glean Tech Companies | 26 Feb 2024 | $200M | $2.20B | Kleiner Perkins and Lightspeed Venture Partners |
| Tech Companies | 1 Feb 2024 | $100M | $1.70B | Presight Capital |
| Electronical Components Manufacturing | 1 Feb 2024 | $91M | not disclosed | not named |
| Tech Companies | 21 Feb 2024 | $75M | not disclosed | Sutter Hill Ventures |
| Environmental Engineering Services | 15 Feb 2024 | $52M | not disclosed | BlackRock |
| Electronical Components Manufacturing | 21 Feb 2024 | $50M | not disclosed | ACME Capital |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did ProducePay raise in its Series D round?
ProducePay raised $38M in its Series D round, announced in Feb 2024.
Who led ProducePay's Series D round?
Syngenta Group Ventures led it, with Commonfund, Highgate Private Equity, CF Private Equity, G2 Venture Partners and Anterra and 4 more.
What was ProducePay's valuation at the Series D round?
It was not disclosed.
Did ProducePay raise again after this round?
Yes: a Growth round in Sep 2026 of $140M.