Announcing Ambrook Wallet & Our Partnership With Stripe Treasury

Dan Schlosser

June 17, 2021

Ambrook has been working to bring modern financial management tools to farmers. We’ve made great progress in just nine months, helping thousands of farmers apply to over $6M in funding for their operations.

We recently launched Ambrook Wallet, a business cash account powered by Stripe Treasury, in order to help farmers seamlessly get access to their funds. When farmers apply to financial assistance programs with their Ambrook Wallet, they can finish the process without reaching for their credit card, and then receive helpful notifications about their payout status.

Stripe announced our partnership yesterday on the opening day of Stripe Sessions, their conference on the future of fintech and payments infrastructure. We worked with Stripe during their private beta period for Treasury, collaborating closely with their engineering team to customize the integration for our unique agricultural use case. Stripe’s team was attentive to our user experience goals, and together we took Ambrook Wallet from zero-to-one in just a few weeks. Check out the announcement here.

Karim Temsamani, Head of Financial Products at Stripe, highlights our partnership at Stripe Sessions at the 10:20 mark!

How it works

Ambrook Wallet makes applying to farm funding seamless and easy. First, a producer will use our online calculator to understand their eligibility and determine how much money they may qualify for. Then, they complete a series of questions that we use to generate their paperwork, handling all of the conditional logic and complexity to save them time and overhead. Finally, after e-signing their forms, farmers can choose to receive money into their Ambrook Wallet if successfully awarded.

We then submit their paperwork packet to their local USDA service center, sparing customers a trip across the state to hand deliver forms. When the USDA approves their payment, their grant award arrives in their Ambrook Wallet, and we update producers on their status.

Stripe Treasury makes this process a breeze, enabling us to create Ambrook Wallet accounts with just a single line of code. Their API also enables easy withdrawals and transfers from our web app.

Financial tools for the modern farm

In the future, farmers will be able to use their Wallet balance to make more streamlined payments for their operations. Wallet is our first step to bring embedded finance tools to agricultural producers nationwide. We are excited to be on the bleeding edge of vertical fintech innovation in underserved industries!

Interested in being a part of the future of farm fintech and supporting profitable and sustainable farming? Our team is hiring!

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Dan Schlosser

Dan Schlosser leads engineering for Ambrook. Dan is a Columbia CS grad and a former Product Manager at Google, where he worked on Firebase and Google Drive. On the Drive team, Dan was the sole product owner for Google Drive’s 1B+ user consumer product and enterprise interoperability with legacy software. While working at Google, Dan also moonlighted as an engineer and product manager at COVID Act Now, Interact, and a number of other non-profit organizations. Before joining Ambrook, Dan managed ML personalization products at The New York Times.