DELAYPAY SECURES $30 MILLION TO BACK FARMERS AS BANKS PULL BACK
Private credit deal with Rixon Capital strengthens regional finance, offering fast, flexible funding to farmers across Australia while filling real market gaps with disciplined, asset-backed solutions.
Leading agricultural Buy Now, Pay Later provider DelayPay has raised $30 million through a deal with asset-backed lender Rixon Capital and its family office partners, reinforcing its position as an independent, farmer-focused business that supports both buyers and sellers with short-term capital and trade confidence.
The funding will accelerate growth across customer channels, supporting DelayPay’s expanding base of over 5,000 producers, while enabling further development of its proprietary CASPE (“Credit Assessment and Processing Engine”), which is driving more automated, AI-based trade and credit processing, alongside continued investment in relationship and customer management.
DelayPay CFO Anton Phillips-Chantelois said: “This refinance provides meaningful headroom for growth and reinforces our commitment to supporting Australian farmers in a fast and convenient way.
It’s also a strong signal of investor confidence in the agricultural sector and in DelayPay’s proven ability to manage trade and credit risk with discipline and innovation.”
Under the three-year agreement, the deal comprises a $20 million senior secured Rixon Capital facility and a $10 million accordion tranche enabling DelayPay to continue delivering flexible funding for livestock, stock feed, fertiliser, machinery, and temporary water allocations. Producers can access up to $500,000 within 24 hours, giving them the working capital needed to act on opportunities quickly.
The raise comes as many traditional banks scale back regional branches and automated services. DelayPay, by contrast, prioritises relationship-driven trading, keeping farmers and the land at the heart of its business.
DelayPay CFO Anton Phillips-Chantelois said: “Too often, trade risk in agriculture relies on good will… we invest significant time, energy, and resources into solving this problem, and the market’s response has been incredibly rewarding. Surpassing $120 million in total transaction volume since inception is a proud moment for our team.”
PRIVATE CREDIT FILLING REAL GAPS IN REGIONAL AUSTRALIA
Private credit is increasingly stepping in where traditional banks have pulled back, when done right, it fills genuine market gaps, funding productive sectors that need it most.
Focused, asset-backed lenders like DelayPay provide tailored, flexible solutions aligned with seasonal and trade cycles. The Australian private credit market is estimated at $40 billion and growing, while bank branch closures down 4.6% nationally and 1.9% regionally over the past year, highlight the ongoing need for relationship-based non-bank finance.
By combining scale, discipline, and market knowledge, businesses like DelayPay are helping producers across regional Australia seize opportunities quickly and with confidence.
RIXON CAPITAL PARTNERSHIP
Phillips-Chantelois said the partnership with Rixon Capital expands both DelayPay’s capacity and its impact on the agricultural sector.
“It delivers real benefits to Australian farmers needing short-term payment extensions on water, livestock, feed, fertiliser, and machinery.”
As a non-dilutive funder, Rixon Capital allows DelayPay to balance flexibility, scale, and risk while continuing to support farmers across Australia.
ABOUT RIXON CAPITAL
Rixon Capital is a non-property, asset-backed private credit manager focused on providing investors with reliable income while prioritising capital protection. Founded in 2022, Rixon Capital identified an opportunity to bring institutional-grade underwriting expertise into the underbanked emerging corporate sector to generate superior risk-adjusted returns for its investors.
Website: https://rixon.capital
ABOUT DELAYPAY
Founded in 2018, DelayPay is Australia’s leading Buy Now, Pay Later provider dedicated to agriculture. By offering up to $500,000 within 24 hours, DelayPay empowers producers to access inputs and opportunities when they need them most. Built by farmers, funded by farmers, and designed for farmers, DelayPay fills the gap left by traditional banks in agricultural lending.
Website: www.delaypay.com.au