New operational deal helps growers access funds and dedicate resources to support crop production with management tools that deliver accurate farm data to lenders.
Campinas, SP, Brazil – November 16, 2021 – Farmers Edge Inc. (“Farmers Edge” or the “Company”) (TSX: FDGE), a pure-play digital agriculture company, has partnered with Gira, a modern multiplatform provider dedicated to supporting growers and funding crop production through barter. By distributing one another’s products and services in Brazil, Farmers Edge and Gira can generate a more transparent credit environment where both farmers and lenders benefit from reliable data.
Barter trade operations have become popular among small and medium-sized Brazilian growers for their agility and simplicity, as it makes funding more feasible by using future production as payment. Santander Bank recently consolidated Gira as a new branch dedicated to developing and stabilizing this payment relationship.
Gira began its trajectory as an ultra-modern receivables management system able to minimize the risks of the agribusiness credit chain, operating safely due to the exclusive legal, agronomic, and environmental compliance service, proven to be efficient for guaranteed payments. Its platform was the first in the region to implement geolocation of production areas for gathering and analyzing agronomic data plus monitoring production on farms reliant on barter.
Today, in a new phase, Gira is part of the Santander ecosystem. As a relevant operator of barter, Gira brings new solutions so that producers can more efficiently purchase the inputs they need, as well as market their production.
Partnered with Farmers Edge, Gira will provide its users with funding resources through barter operations. This synergy offers a new frontier in trust and expansion to Brazilian banks and farmers alike.
“Our unique digital infrastructure and FarmCommand platform will help to minimize risk for lenders and empower Brazilian growers,” said Farmers Edge founder and CEO Wade Barnes. “By allowing lenders to access field-centric data that our proprietary tools collect, farmers can borrow capital to finance their growing season, improve land, and scale their business — all while using our solutions to boost yields, streamline processes, and grow more sustainably in one of the world’s largest food exporting nations.”
“We are creating an integrated environment for risk management in agriculture,” said Barnes. “As the local pioneer in this field, Gira is the ideal partner for creating the transparency and visibility we need to fuel the digital transformation of Brazilian agribusiness. Now farmers can match the needs of their operation to the right tools, and banks can lend at favorable rates to help their country’s growers prosper.”
About Farmers Edge
Farmers Edge is leading the next agricultural revolution with the industry’s broadest portfolio of proprietary technological innovations, spanning hardware, software, and services. Powered by a unique combination of connected field sensors, artificial intelligence, big data analytics, and agronomic expertise, the company’s digital platform turns data into actions and intelligent insights, delivering value to all stakeholders of the agricultural ecosystem. Farmers Edge disruptive technologies accelerate digital transformation on the farm and beyond, protecting our global resources and ensuring sustainable food production for a rapidly growing population. For more information, please visit www.farmersedge.ca and SEDAR (www.sedar.com).
Corey Herscu (US/Canada)