Bringing a traditional agricultural industry into B2B ecommerce
Online B2B marketplace ProducePay builds trust between farmers and their customers as it aims to streamline a labyrinthine agricultural supply chain, founder and CEO Pablo Borquez Schwarzbeck says.
Success runs in Pablo Borquez Schwarzbeck’s family. The Campos Borquez agricultural produce farms owned by his father, Pablo Borquez Almada, is in the northwestern Mexican state of Sonora. It won the 2021 “Supplier of the Year” award from Amazon-owned grocery chain Whole Foods Market, along with two other suppliers. How ProducePay started
Pablo Borquez Schwarzbeck has come a long way from Sonora. And he’s had his share of success, raising significant capital for a start-up business. He’s raised $80 million for his ecommerce marketplace and finance company, Produce Pay Inc., which he launched in 2014 after conceiving it at Cornell University, where he was studying for his MBA. His idea caught the attention of business publisher Forbes, which in 2018 named ProducePay one of its 25 “Most Innovative AgTech Startups.” Pablo Borquez Schwarzbeck, CEO, Produce Pay Inc. Branded ProducePay, the marketplace shows how a new internet venture can address challenges and open up opportunities for a traditional industry has long been restricted by the complexities of cross-border commerce, lack of business services, and an opaque and complicated supply chain.
“There is an opacity or lack of transparency in the market,” says Borquez, ProducePay’s CEO. He learned the produce trade on the family farms and at The Guimarra Companies , a big Los Angeles distributor where he worked after college.
ProducePay is out to change that, he adds. The marketplace matches produce farmers, mostly in Latin America but some in the United States, with U.S. distributors and other buyers. The idea is to open cross-border trade to more farmers and speed up procurements, eliminating as many middlemen as possible in what ProducePay views as […]
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