Silo, founded in 2018, developed a financial technology (fintech) platform for the food supply chain that connects inventory, logistics, buying, selling, payments, accounting, and access to capital within one easy-to-use platform. It works on desktops, laptops and can be accessed through any mobile device.
“This is an on-the-go industry,” says Lauren Contreras, Director of Product Marketing for San Francisco, CA-based Silo. “For an industry that wants to attract more people to it, breaking down the barriers that make it difficult to effectively run a healthy business needs to be a priority. That requires cloud-based technology and access to capital. If operational and cash flow health are the goals, Silo makes them approachably easy.”
Silo’s stand out differentiator is Silo Capital. “We’re reimagining how businesses can obtain the funding they need to achieve their goals and bringing working capital financing into the modern era with a fast, low-friction approval process, simple tools to monitor and manage accounts, and intuitive reporting that provides enhanced visibility,” says Jeff Butler, GM of Silo Capital. “Silo’s approach is to build long-term partnerships with our customers across all aspects of their business. We make the process of getting financing lightweight and flexible, so that businesses can spend more time focusing on what they do best.”
Silo says its platform shows what’s going on at your produce company so you can quickly take action. “This industry is a very risk-averse industry for a reason. But what if you could pressure test your infrastructure by pushing more volume, identify opportunities to break into new markets, and secure the capital needed to expand, would you?,” Contreras says. “We try to absorb some of the risk and automate the tedious tasks so produce companies can focus on strategy–something small and medium sized produce businesses need. The industry can feel reactive. But through technology, insights, and capital, we are here to help them thrive.”