Johnston, Iowa -- Growers Edge, a financial technology firm that provides modern financial products and data-driven tools for agricultural retailers, manufacturers and lenders, announced the acquisition of AQUAOSO Technologies, which offers its services under the Agcor brand and provides mapping, data, and analytics software for agricultural lenders.
Many agricultural lenders undervalue weather, water, and climate risks in their financing decisions. Traditional land valuation methods don’t consider the impact of the worsening effects of climate change, which can include unpredictable fluctuations in temperature and precipitation that increase the frequency and range of droughts, floods, insects, weeds, and diseases.
Agcor’s climate intelligence model, which uses location-based data to determine future impact of weather, water, and other climate events, helps lenders better understand climate risks. It’s part of a suite of software tools on the Agcor platform, which lenders use to streamline operations, better manage their portfolios, and build stronger relationships with customers.
Lenders, including Golden State Farm Credit, American AgCredit, and MetLife, use Agcor’s technology to quickly and accurately assess risk exposure and identify hidden revenue opportunities in their portfolios.
Agcor improves the agricultural lending process by integrating loan, collateral, appraisal, sales, and other lending data into a single source. Lenders use that data to evaluate and automate loan decisioning, appraisal, and portfolio risk management processes. Together, Growers Edge and Agcor will empower financial institutions to make faster, better-informed lending decisions.
"The most accurate farmland valuations are backed by the most comprehensive data and realized by streamlined ag lending processes,” said Matt Hansen, CEO of Growers Edge. “As we’ve built out advanced land valuation models at Growers Edge, Agcor has developed close partnerships with agricultural lenders by providing them with the analytical tools they need to build trust-based relationships with borrowers. The combined dataset, analytics engine, and suite of software tools will reshape the landscape of agricultural lending.”
The acquisition marks another major milestone for Growers Edge. Over the past 12 months, the company has expanded its RangeAg farmland valuation tool to cover 144 million acres or over 50 percent of all federally-insured farmland in the US, partnered with firms like Mondelez and PepsiCo to increase the adoption of environmentally friendly practices, and supported a significant awardee of the EPA’s $14 billion National Clean Investment Fund.
"Agcor and Growers Edge share a commitment to unparalleled precision and efficiency in the farmland valuation space," said Chris Peacock, CEO of AQUAOSO Technologies. "As we integrate our data and analytics tools into their existing valuation models, we’ll develop a more powerful software suite for our current and future customers.”
For more information, visit agcor.io.