Global Prairie sues ag tech firm FarmLink for loan default
January 5, 2017 | Bobby Burch
Kansas City-based marketing firm Global Prairie has filed suit against a local ag tech firm for defaulting on a loan, according to a document that was filed Nov. 14 in Jackson County Court.
In the document, Global Prairie alleged that Kansas City-based FarmLink failed to fulfill payments on a promissory note in the amount of $568,390 plus interest. A promissory note is a financial tool used to put the terms of a loan in writing and contains a written promise to pay a stated sum on a specific date.
FarmLink — whose website is now inoperable — offers a suite of tech services for farmers, including its analytics platform TrueHarvest and machinery sharing platform MachineryLink Sharing.
Led by CEO Ron LeMay, the company has raised about $77 million in capital. LeMay is also the managing director of OpenAir Equity Partners, which is a top investor in FarmLink.
FarmLink in February announced that it would split its company into two businesses, FarmLink and MachineryLink Solutions. The court filing includes two other affiliate organizations: FarmLink LLC and FarmLink Analytics.
Anne St. Peter founded Global Prairie in 2008. The firm has since opened offices in Chicago, Cleveland, Denver, Fort Worth, Washington, D.C., Berlin and Brussels.
“This is a legal matter and we intend to limit any comments to our court filings,” said Greg Wolf, an attorney at Dentons that’s representing Global Prairie.
FarmLink has not yet responded to request for comment. The ag tech firm was selected by Startland News as one of Kansas City’s top 10 startups to watch in 2016.
Featured Business
2017 Startups to Watch
stats here
Related Posts on Startland News
‘This is the dream’: Starty Party turns up the volume on Kansas City tech, collaboration (Photos)
It isn’t a party without the people, said organizers of the Starty Party, gathering a crowd of startup veterans, early stage founders, investors and community leaders Wednesday for a one-night celebration of innovation — set against the backdrop of homegrown music and vibes. “This is amazing,” said Melissa Vincent, CEO of Pipeline Entrepreneurs, from the Starty…
KC preps for World Cup all-nighter, taste testing 23-hour drinking window for summer games
Entrepreneurs want to tap into all the potential business they can when an estimated 650,000 visitors descend on Kansas City for the World Cup, said Jim Ready, detailing plans for a temporary expansion of alcohol sales in KCMO to accommodate a global audience in June and July 2026. The move is more of a stress…
Kauffman narrows Uncommon Leader contenders to five finalists from community orgs
Kansas City leaders advancing toward the Kauffman Foundation’s high-profile impact award all demonstrate bold, creative, and inclusive leadership, said Dr. DeAngela Burns-Wallace, announcing five finalists for the inaugural honor. “Each of these leaders reminds us that one person can make a difference, and that compassion and dedication can change the lives of the people we…
KC-built app locks down vulnerable users’ data before they can share it with online scammers
He’s a startup founder today, but a protective brother first, said Danny Moran, describing how his sister with special needs motivated the launch of an app to protect vulnerable people engaging in a digital world too often filled with bad actors. “She’s been scammed online multiple times over the past 10 years, causing significant financial…