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Growers Edge Announces $15M Investment and Leadership Transition to Drive Ag Fintech Transformation

Johnston, Iowa – February 13, 2023 – To position the company for long-term success while continuing to deliver for partners, farmers and shareholders, Growers Edge, the industry-leading financial technology (fintech) company serving the ag industry, announced the successful close of a $15 million Series B extension round of financing. The latest round of funding was led by S2G Ventures and Cox Enterprises, along with existing investors iSelect Fund, Skyline Global Partners, Finistere Ventures and Bunge.

In conjunction with the funding news, the company also announced a leadership transition. Dan Cosgrove, former CEO of Growers Edge, has stepped down from his role, effective immediately. The Board has selected Hollie Bunn to serve as Interim CEO and lead the company into the next phase of growth.

“As the Board and I looked toward the future, we saw a need to leverage fintech talent to complement the company’s deep ag expertise,” said Dan Cosgrove, former CEO of Growers Edge. “Hollie Bunn delivers on that need, and as she assumes the reins of Growers Edge, I am confident her expertise, steady hand, and deep connection to the ag lending industry will be invaluable as Growers Edge scales to drive growth.”

Cosgrove continued, “I am incredibly proud of everything the team has achieved over the past two years and thankful for the continued support from our investors. I’m looking forward to watching the growth and progress the talented team at Growers Edge will continue to make in the years ahead.”

“Dan’s leadership and service to advance Growers Edge’s evolution in becoming a leading fintech provider in the ag industry has been substantial,” said Trevor Schauenberg, Chair of Growers Edge’s Board of Directors. “Moving forward, I’m excited to work with Hollie as she focuses the team on maximizing our partners’ success and growing the company’s share of the $50 billion U.S. ag financing marketplace.”

Hollie Bunn, who brings over 20 years of ag lending expertise, has had significant impact on the company since joining Growers Edge in 2020. She formerly served as Growers Edge’s Chief Lending Officer and Executive Vice President, where she was responsible for building the company’s embedded financing platform for ag retailers and industry suppliers to deliver capital to farmers. Under her leadership, the company has seen a 200% increase in its network of partners.

“Although agriculture is one of the largest and most complex financial markets in the world, I believe it has been terribly underserved,” said Bunn. “Leading Growers Edge into its next phase of growth to modernize and innovate financial solutions for the ag industry is a responsibility I am thrilled to accept!”

“The Growers Edge Board continues to see the massive opportunity that exists in bringing simple, customizable and fast fintech solutions that help farmers access capital, reduce risk and adopt sustainable practices,” said Josh McClung, Cox Enterprises, Inc. AVP of Strategy & Investments. “I am confident the industry needs the solutions Growers Edge delivers and in Hollie Bunn’s ability to lead the team to success.”

Growers Edge provides proprietary data insights, financial technology tools, and lending solutions to help ag input manufacturers and retailers across the U.S. deliver relevant solutions to farmers. With the help of partners such as EnviroKure, Farmers Cooperative Services, Helena, Landus Cooperative, Midwestern BioAg, PepsiCo, Practical Farmers of Iowa, Puris Foods, Syngenta, Valley Ag, Willard Agri-Services, and others, the company is improving sales for retailers and reducing risk for their farmer customers.

Source: Growers Edge

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