FarmOp Capital, LLC. is a new ag lender providing U.S. grain farmers with high advance rate working capital loans that support their operational independence and efficiency. FarmOp’s innovative financing approach provides up to 100% of the operating credit required for a farmer to plant and harvest a crop – especially important today as farmers make management decisions while facing low commodity prices and thin margins.
In the 2019 crop year, FarmOp will use Geosys’ analytics, derived from satellite data, for crop performance monitoring in its lending and loan servicing operations. This will provide valuable insights to help reduce risk for both FarmOp and its borrowers.
The Geosys platform uses a combination of daily satellite imagery and medium resolution maps of fields to identify crops, growth stage, and yield potential trend. These analytics feed into business intelligence dashboards to help identify and quantify risk exposure during the season.
Matthieu Hyrien, vice president of sales and marketing, Geosys, says “We provide scientific and objective analytics; evidence that helps build trust and transparency while managing risk between lenders and farmers. It is great to have the opportunity to work with such an innovative team at FarmOp by helping them service loans and supporting their growth.”
“We have been convinced by the level of experience and deep historical data that Geosys has demonstrated, and an impressive list of customers globally, leaders in many countries. Geosys’ scalability enables us to grow our business.” — Darwin Melnyk, cofounder and chief technology officer, FarmOp Capital.
FarmOp is at the top of the list of 8 agtech start-ups to watch according to Successful Farming.
Contact Geosys to get started with your own satellite crop monitoring services.
About FarmOp Capital
FarmOp Capital provides working capital to farm operators. FarmOp products increase independence and buying power, aligning ag lending with decades of AgTech innovation to help growers make more profitable decisions. Founded in 2017 to address long-term trends in farm operations and fill a growing need within agricultural lending, FarmOp provides credit to growers based on their ability to grow an efficient crop. 2019 marks the first year of working capital offered by FarmOp, with loan financing available now. More information can be found at www.FarmOp.com. Follow FarmOp Capital on Facebook, Twitter and LinkedIn.