Farmland investing platform AcreTrader of Fayetteville announced it had raised $12 million in funding.
The fundraising was led by Jump Capital and brings the company’s total funding to $18 million. AcreTrader said the funds will be used for better access to national farmland transactions through better online tools, data science and expanding the company’s team of experts.
Jump Capital partner Peter Johnson will be added to AcreTrader’s board of directors, along with Kenny Traynom, the former COO of Westchester Group, a farmland investment management company.
“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,” said AcreTrader CEO Carter Malloy. “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.”
Launched in March 2019, AcreTrader buys a farm and places it in a unique LLC. “The investors then come on our website, and they can invest as little as $5,000 or $10,000 in a farm,” Malloy told Arkansas Business that same year. “It’s pretty simple. … You can do it literally in minutes online on our website,” AcreTrader.com.
“Basically it’s crowdfunding for farmland,” said Malloy, whose father is a farmer.
