AcreTrader, the Fayetteville company that allows investors to buy a fraction of a farm instead of the entire property, announced Tuesday that it had raised $40 million.
The Series B financing will be used to support growth of AcreTrader’s platform, hire more technology, finance, and agriculture employees, and work with more farmers and landowners to build a larger market, according to a news release.
“Over the last few years, we’ve seen that land investing can consistently deliver strong returns even when markets experience turbulence,” Carter Malloy, founder and CEO of AcreTrader, said in the news release. “ AcreTrader is excited to provide investors with easy and unique access to this space while simultaneously helping farmers grow their businesses.”
The Anthemis Group of London, led the funding round and was joined by existing institutional investors: Jump Capital of Chicago, Narya Capital of Cincinnati, RZC Investments of Bentonville, Revel Partners of New York, and Revolution’s Rise of the Rest Seed Fund of Washington, D.C. The round brings AcreTrader’s total backing to $58 million since inception, the release said.
“AcreTrader is on an exciting growth trajectory, led by a strong management team with a unique understanding of how to maximize value for both investors and farmers,” Ruth Foxe Blader, partner at Anthemis Group, said in the news release. “Anthemis is proud to help accelerate AcreTrader’s growth as it continues to develop not only a large repository of investible farms, but also a trove of important data to provide field-level information about farm sustainability.”
In March, AcreTrader announced it had raised $12 million of venture funding for business operations, bringing AcreTrader’s total amount raised to $18 million. Jump Capital was the lead investor in that $12 million round.
Since launching in 2019, the Fayetteville farmland investing service has placed “well over” $100 million into more than 60 farms in a dozen states, Malloy told Arkansas Business in September.