Shark Tank Profile: Produce Pay – Pablo Borquez Schwarzbeck, MBA ’15

Below are comments from Pablo Schwarzbeck:

1. Who is on Produce Pay‘s executive team and how many other students are on the whole team?

CEO: Pablo Borquez Schwarzbeck, MBA 2015Logo
Additionally, Produce Pay has two strategic partners:

CoVenture: Lead by Ali Hamed, Cornell Undergrad 2014.
Giumarra: Los Angeles based national supplier of fresh fruits and vegetables.

2. What is Produce Pay and when was it created?

Produce Pay is a payment platform that connects Farmers, Distributors and Banks to ensure faster cash turnover and provide necessary financing throughout the supply chain.

The concept behind Produce Pay was first conceived here on campus on March 2014. Since then, the concept has developed into an idea, the idea into a business (incorporated on December 2014), and now, this business is expected to launch this upcoming March (2015); exactly one year later.

3. Why is it valuable or interesting?

Produce Pay is bringing a novel financial solution to an otherwise traditional industry. Farmers and Produce Distributors today have been largely underbanked for many years, having to rely in expensive and limiting forms of financing. Produce Pay will allow large financial institutions to inject mass amounts of funds into the industry, by providing these institutions with additional guarantees that they would otherwise not be able to get on their own.

4. What does Produce Pay think about the entrepreneurship community at Cornell?

Cornell has been absolutely key to the development of Produce Pay. From allowing us to find the right partners and mentors to shape this idea, all the way to securing our financing. Cornell’s entrepreneurship community has truly been a fertile environment for growth!

5. What is Produce Pay’s favorite entrepreneurship resource at Cornell? ie: Popshop, professors, etc.

Advisor and Mentor support.

6. How has Produce Pay changed after winning Shark Tank in NYC recently?

Produce Pay has gained much more visibility throughout the investing community. Additionally, pitching in front of such a large crowd has definitely forced us to up our game!

7. Do you have any words of wisdom for aspiring entrepreneurs?

Great ideas originate from very real needs. The first several months of starting something new should be spent listening to others discuss your idea, not telling them why they need it.

* * *

J O H N S O N    S H A R K    T A N K    2 0 1 5

5 Pitches

3 VC Judges

1 Winner $1500

& ticket to SXSW Interactive

 

T H E    P I T C H E S

SALT  | Fon Powell, Biomedical PhD, Weill Cornell

NTi TECHNOLOGY | Shane Heil ChemE BS ’16, Kevin Hung BS ChemE ’15, Xiaolu Wen BS ChemE ’16

FLORA PULSE | Michael Santiago MechE PhD

ARCTYC INNOVATIONS  | Willie Mendelson MEng ’15, Bryan Dunn Hotel ’14

RIGHT PRICE MANAGEMENT LLC | Rebecca Robinson MBA ’15, Derek Mayer MBA ’15

PRODUCE PAY | Pablo Borquez MBA ’15 [Winner of Shark Tank NYC]*Ineligible to win this event

 

T H E    J U D G E S

ANDREESSEN HOROWITZ | Malinka Walaliyadde

CAYUGA VENTURE FUND | Jennifer Tegan

CHI FAN GROUP LLC | Caleb Cheng