Farmers Business Network (FBN) announced July 28 that it has raised $50 million in new funding.

It plans to use the new capital to accelerate the expansion of its AI-powered services and broaden its ecommerce offerings across North America. Backed by investors including GV (Google Ventures), Temasek, Arteqin, Colle Capital, and T. Rowe Price, the funding will support FBN’s mission of “powering the prosperity of family farms.”

The company said the new investment will help drive innovation across its product lines, financing tools, and proprietary AI systems. FBN is a farmer-to-farmer digital platform and ag marketplace.

“Our commitment to putting farmers first means a relentless focus on efficiency and convenience,” said Diego Casanello, CEO of FBN. “Our goal is to reduce a farm’s operating costs 20% or more compared to brick-and-mortar retail. We’re working to maximize grower savings and ensure every dollar they spend goes as far as possible.”

FBN now serves more than 117,000 farms representing 187 million acres across the U.S. and Canada. Its ecommerce marketplace offers over 7,200 products spanning crops and livestock, with direct-to-farm delivery on most orders within 24 to 72 hours. According to recent farmer surveys by Stratus Ag Research, 35% of farmers visited FBN while shopping for inputs, and the number of farmers purchasing online has grown 86% year-over-year.

How FBN will use its new funding

The company’s finance platform has also reached a new milestone, having extended $3 billion in total financing to farmers.

As part of its strategic shift, FBN is making a larger push into artificial intelligence, both to support its members and streamline internal operations.

“Artificial intelligence is enabling us to provide our farmer members with more personalized and relevant insights,” Casanello said. “Simultaneously, it offers new tools to automate our marketplace operations, reducing costs and improving the customer experience.”

Among FBN’s newest AI tools is “Norm,” its proprietary large language model trained to assist with agronomy questions. It has since updated the model to support crop marketing queries, and it expects future versions to expand into personalized agronomy, finance, and risk management.

FBN is also expanding its product portfolio and opening its platform to third-party sellers. In 2025, the company increased its private-label offerings under the Willowood USA and Farmers First brands. It now allows other sellers to list their own brands via a new suite of tools and services.

Additional announcements include the expansion of FBN Canada’s wheat crop protection portfolio, new offerings in bulk liquid fertilizer and equipment financing, and plans to open two new Canadian distribution centers in 2026. The company has also launched a new seed marketplace featuring brands such as Seitec Genetics. And it continues to grow its livestock catalog with feed products from Ridley and Sweetlix, fencing, and other farm and ranch supplies.

“These essential changes, while challenging, position FBN to deliver exceptional and sustainable value to its members through innovation,” the company stated.

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