PROJECT

Projects

Summary of Investment Information

Project Number

43528

Company Name

PRODUCE PAY INC.

Date SPI Disclosed

Mar 3, 2021

Country

Latin America and the Caribbean Region

Region

Latin America and the Caribbean

Projected Board Date

Apr 5, 2021

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Aug 6, 2021

Department

Global Industry, Financial Markets

Industry

Agribusiness and Forestry

Previous Events

Approved : Apr 14, 2021
Signed : May 3, 2021
Invested : May 7, 2021

Sector

Wholesale (Including Grocery and Farm Products)

Project Description

 The project consists of an equity investment for a minority stake in ProducePay (“PP”, or the “Company”), a commerce enablement platform focused on the produce market. The Company’s services are primarily targeted to LAC-based farmers who export fresh fruit and vegetables to the US. IFC is proposing US$8 million in equity preferred financing to ProducePay to support its operations and expansion.

Associated Advisory Engagement

 Not applicable.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation