Bushel, a leading digital platform connecting farmers and agribusinesses, has successfully closed an oversubscribed $26 million funding round. The funding was led by The Banc Funds Company, with additional support from new and existing investors including 50 South Capital, The Andersons, Inc., Cargill, Germin8, Lewis & Clark AgriFood, The Scoular Company, and Conti Ventures.
Bushel is an independent software company that focuses on developing digital tools for farmers and agribusinesses within the agricultural supply chain. The company’s software aims to digitize and streamline information flow, transactions, and payments through secure mobile and desktop applications.
This investment will aid in the continued development of Bushel’s software products and features that bring value to various stakeholders in the agricultural sector, including farmers, grain buyers, ag retailers, protein producers, and food companies. Some key initiatives include:
Bushel’s platform currently manages account-related data for over 45% of farm-originated grain in the United States and Canada annually, representing around 10 billion bushels.
Christopher Hopkins, Fintech Portfolio Manager at The Banc Funds Company, emphasized the potential of Bushel’s connectivity with farmers, grain elevators, and ag retailers to modernize payments within the agricultural industry. Hopkins has also joined Bushel’s board of directors.
Jake Joraanstad, Bushel CEO, expressed gratitude for the support from investors and highlighted the company’s commitment to enhancing its product offerings and delivering more value to its customers with the funding received.