Climate Finance | November 22, 2021

Farmers Business Network rakes in $300 million to scale up agtech platform

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, November 22 — Farmers Business Network has a network of over 33,000 farmers managing 80 million acres in North America and Australia. The San Carlos, Calif.-based company launched in 2014 to crowdsource pricing data for seeds, fertilizer and other farm inputs in a sector that profits off of opaque pricing.

Its offerings have grown to include equipment loan and insurance, crop protection, seed breeding and carbon monitoring. “Our mission is always to increase the profit potential of family farms,” said FBN’s Amol Deshpande

Farm fintech

FBN last year spun off GRO Network, which tracks the carbon footprint of grains. The new funding will cover more than 350 new hires and help the company scale its fintech and sustainability offerings.

Investors in the Series G financing include Fidelity, ADM Ventures, Tudor Investment and early investors DBL Partners and GV, formerly Google Ventures. The round values the company at $3.9 billion.