AcreTrader, a Fayetteville, based farmland investing platform, has now secured $12 million in a Series A funding round.
AcreTrader is founded by Carter Malloy. It is offering access for individuals and institutions to invest in land and partner with farmers, which allows individuals to purchase shared of farmland online. The platform also works with the farmers by offering new financing options to grow their operation. The platform is, as of now, available to accredited investors via the US.
Carter Malloy, founder and CEO of AcreTrader, said, “Over the last few months, we’ve consistently seen our offering sizes grow while our funding windows shrink, showcasing the fast-growing desire surrounding this resilient asset class. As a company that seeks to support and connect farmers and investors in a way that no one else is, we’re humbled by this monumental growth, and look forward to leveraging these new funds to continue on that trajectory.”
Peter Johnson, partner at Jump Capital, said, “Farmland investing is becoming increasingly sought after in the current macroeconomic environment. Jump Capital is proud to lead this investment to help accelerate AcreTrader’s growth and broaden access to this compelling asset class. I’m also looking forward to joining the company’s board of directors to help guide the company as it drives the charge to modernize farmland transactions.”
AcreTrader latest funding
The round, which brings the total funding secured to $18 million, was backed by the Jump Capital with participation from Narya Capital, RZC Investment, Revel Partners. And Revolution Rise of the Rest Seed Fund.
Post funding, Peter Johnson, the Managing Partner at the Jump Capital, and Kenny Traynom, the former COO of the Westchester Group will now going to join as the AceTrader’s Board of Directors team.
The company as of now has plans to use the new funds to improve overall access, liquidity and transparency to farmland transactions across the nation via online tools, marketing, data science, and expansion of AceTrader’s team of finance, agriculture, technology, and finance experts.