American AgCredit and Farm Credit Services of America Partner with Plug and Play to Advance Agricultural Lending

SUNNYVALE, CA, June 5, 2023 – Agricultural finance companies American AgCredit (AAC) and Farm Credit Services of America (FCSAmerica) have partnered with the global innovation platform, Plug and Play. By gaining access to Plug and Play’s extensive startup network, AAC and FCSAmerica can expand their product offerings and provide customers access to more services. Through this collaboration, AAC and FCSAmerica are poised to revolutionize the agricultural lending landscape.

“Agriculture is an increasingly complex industry. Producers and the businesses they depend on are looking for solutions,” said Krista McDonald, who as Chief Strategy Officer leads FCSAmerica’s innovation team and initiatives. “Through Plug and Play, FCSAmerica can collaborate with companies and innovators on shared challenges. The solutions will directly benefit our customer-owners and agriculture as a whole.”

AAC and FCSAmerica are working with Plug and Play startups in the fintech space to evolve digital tools and services to help producers manage the business side of their operations. This includes making it more convenient and faster to access money and credit when and where producers need it. The organizations also can collaborate across the agriculture, finance and tech industries to help advance scalable solutions for the farm and ranch.

“The evolution of agriculture is inevitable – and exciting. America’s farmers and ranchers are at the forefront of this evolution, as they have been for generations. They are innovating and building their operations for a future that is more digital, more collaborative, and more advanced than ever before,” said Lynn Scherler, Chief Alliance Officer, American AgCredit, “More than simply meeting our customers’ needs, American AgCredit anticipates their opportunities. Investing in strategic partnerships with businesses like Plug and Play will enable more value for our customers as they continue to feed, fuel and clothe our growing world. We’re pleased to partner with organizations who share our passion for the thriving vitality of agriculture.”

“We are excited to collaborate with leading organizations such as American AgCredit and Farm Credit Services of America, who are devoted to promoting the longevity and success of agriculture. By joining forces, we hope to create a brighter future for farmers and support the communities that depend upon the livelihood of this industry,” said Saeed Amidi, Founder and CEO of Plug and Play.

AAC and FCSAmerica are part of the Farm Credit System, a nationwide network of financial cooperatives that collectively constitute the largest single source of credit to agricultural producers and rural businesses. Reliable credit is the cornerstone of a sustainable food system and Farm Credit was created more than a century ago to be the lender U.S. producers could depend on through every economic cycle. AAC and FCSAmerica are collaborating with Plug and Play as part of their ongoing efforts to deliver financial solutions for the next century.

Plug and Play’s team of experts provides resources to startups, including mentorship from experienced entrepreneurs, access to investors, workshops on fundraising strategies, networking opportunities with corporate partners, and much more. Plug and Play also organizes various events throughout the year where it showcases its portfolio companies’ solutions while connecting them with potential customers or partners. AAC and FCSAmerica are collaborating with companies that have shared interests in solving the kinds of challenges facing farmers and ranchers. The collaboration helps both partners and startups work together on bringing new ideas to fruition.

For all corporations, investors, and startups looking to network in agtech and fintech, visit: pnptc.com.

About Plug and Play

Plug and Play is the leading innovation platform, connecting startups, corporations, venture capital firms, universities, and government agencies. Headquartered in Silicon Valley, we're present in 50+ locations across five continents. We offer corporate innovation programs and help our corporate partners in every stage of their innovation journey, from education to execution. We also organize startup acceleration programs and have built an in-house VC to drive innovation across multiple industries where we've invested in hundreds of successful companies including Dropbox, Guardant Health, Honey, Lending Club, N26, PayPal, and Rappi. For more information, visithttps://www.plugandplaytechcenter.com/

About American AgCredit
American AgCredit was chartered in 1916 as part of the nationwide Farm Credit System and offers a broad range of agricultural loan, leasing and insurance services in California, Colorado, Hawaii, Kansas, New Mexico, Nevada and Oklahoma, and serves capital market customers throughout the United States. Their financial services include production and mortgage financing, equipment and vehicle leasing, crop and life insurance, lines of credit, and the Young, Beginning and Small Farmer Program. American AgCredit also provides interest-free loans for qualifying 4-H and FFA AgYouth programs, and college scholarships to students interested in agriculture. To learn more, visit agloan.com.

About Farm Credit Services of America

Farm Credit Services of America is a customer-owned financial cooperative proud to finance the growth of rural America, including the special needs of young and beginning producers. With $41 billion in assets and $7.2 billion in members’ equity, FCSAmerica is one of the region’s leading providers of credit and insurance services to farmers, ranchers, agribusiness and rural residents in Iowa, Nebraska, South Dakota and Wyoming. Learn more at fcsamerica.com.

Plug and Play Contact

press@pnptc.com

American AgCredit Contact

media@agloan.com