ProducePay (website), a marketplace transforming the global produce industry into a more connected and sustainable supply chain, has been named one of Fast Company’s World’s Most Innovative Companies for 2023. The list highlights businesses at the forefront of their respective industries, paving the way for the innovations of tomorrow. In addition, ProducePay earned the distinction from Fast Company for launching its QuickPay+ program. This financing solution empowers growers and disrupts the produce industry’s decades-old practice of Pick & Pack.
Through QuickPay+, verified sellers on ProducePay’s marketplace can receive up to 96% of the payment for shipments in 24 hours instead of standard arrangements of up to 60 days. ProducePay developed a first-of-its-kind Carbon Offset Program in partnership with ALLCOT, specifically for produce growers who have not had the tools to participate in the rapidly growing voluntary carbon market, estimated to reach $50 billion by 2030.
Being named to Fast Company’s World’s Most Innovative Companies list comes at the end of a banner year in which ProducePay grew year-over-year by 85% and overall transactions on its marketplace by 279%. The recognition from Fast Company is a testament to ProducePay’s commitment to creating a more sustainable and connected produce supply chain.
Fast Company’s editors and writers sought out the companies making the most significant strides globally for this year’s list. The World’s Most Innovative Companies is Fast Company’s signature franchise and one of the year’s most highly anticipated editorial efforts. In addition, fast Company will host its third annual Most Innovative Companies Summit on April 19 and 20, celebrating the Most Innovative Companies in business and providing an inside look at cutting-edge business trends and what it takes to innovate in 2023.
ProducePay’s inclusion in Fast Company’s prestigious list is a significant recognition of the company’s ongoing efforts to transform the global produce industry into a more connected, sustainable, and equitable ecosystem. ProducePay is contributing to building a better future for the industry and the planet by empowering growers and providing them with the tools they need to succeed.
Image provided by ProducePay