Spenda has expanded into the agricultural vertical through a partnership with AgriChain.

Under the binding agreement, Spenda will provide early payment services to grain growers integrated into the AgriChain platform.

The revenue will be shared between Spenda and AgriChain at a 75:25 ratio, and the program is expected to scale up significantly in the first quarter of 2024.

AgriChain, with a substantial presence in the market, has approximately $2.2 billion in grain on its supply chain platform across 10,000 users.