AN Australian livestock finance company is being put on the market after it was placed into administration earlier this month.

According to the ASIC website, administrators from William Buck were appointed to Melbourne-based Agrifunder Pty Ltd on October 14. Beef Central understands KPMG has been appointed as receivers and the company has been put on the market.

Agrifunder has been operating as a livestock financier since 2018, primarily providing finance for cattle trading.

It is understood the company was unable to finish refinancing in time to fulfil the terms of its existing funding arrangements – with some negotiations stalling close to the deadline.

Beef Central was told that there were no big issues with collecting finance at the end of loan arrangements. The company says existing loans will stay as per contract.

Agrifunder was sold in 2023 after its parent company was placed into administration. At the time Agrifunder said a shareholder loan to the company was not refinanced, and accordingly the business appointed a sale advisor to put up the business for sale as a going concern.

In September that year, the company started re-hiring executives and key positions with the CEO telling Beef Central that it had ample funding and goals to expand.