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
Report: NFL Draft festivities scored $164.3M in economic impact for Kansas City
Despite the stress of feeding thousands of people, a propane tank running out, and a fryer overheating — plus paying the vendor fee — KC’s Wing Bar owner Keshia Clark said teaming up with the NFL Draft in April was definitely worth it for her business. “We saw in three days what one middle class…
‘Follow the smoke and look for the Ferris wheel’: Chef J BBQ set to join Pennway Point (and Arrowhead)
Walking through the West Bottoms, the smell of smoke and spice will lead a hungry wanderer to one of Kansas City’s emerging barbecue hot spots: Chef J BBQ. Restauranter and pitmaster Justin Easterwood, better known as “Chef J,” has made a name for himself — now that hard work has earned Chef J BBQ a…
Overland Park Farmers Market vendor suspended over anti-semitic social media posts
Editor’s note: The following story was first published the Shawnee Mission Post. Click here to read the original story or here to subscribe to the independent Johnson County news source. Content warning: This story includes hate speech and disturbing language. The Overland Park Farmers’ Market has suspended a first-year vendor after his anti-semitic and hate-filled social media posts…
Flint Group’s new strategic partner invests in taking the home services platform national
SEATTLE — A newly announced strategic investment from the global firm General Atlantic is expected to help a home services platform with Kansas City leadership enhance its business offerings and accelerate its growth, ultimately toward scaling the company nationally. Founded in 2019 by industry veterans Collin Hathaway and Trevor Flannigan, Flint Group has quickly expanded…