FinTech: Cannabis Wholesale Platform Leaflink Clocks Over $1B In Payments Transactions

September 22, 2022 | FinTech, Latest News, News

LeafLink connects 8,700+ retailers with 3,500+ brands and distributors for streamlined cannabis commerce.

Leaflink, a wholesale platform for the cannabis industry that offers payment solutions, announced Wednesday that it had processed over $1 billion in transactions since the company’s inception to date across 1700 active operators and 22 markets. (CISION PR Newswire)

More and more states in the US are favoring the sale of recreational cannabis, which received a boost in demand during the lockdowns forced by the pandemic. This trend is likely to be a significant tailwind for Leaflink which acts as a B2B facilitating platform for pot players of all kinds including distributors and retailers.

According to Reuters,  the company has raised over $131 million of equity and a credit facility of $250 million. Investors include Founders Fund, Thrive Capital, Nosara Capital and Lerer Hippeau.

Leaflink Payments offerings include Flexible and Direct Payments to increase the speed and security of wholesale transactions. LeafLink’s marketplace processed approximately $5 billion in annual orders in 2021, making up an estimated 42% of U.S. wholesale cannabis commerce.

“LeafLink looks to the future of cannabis and constantly strives to elevate the ways retailers and brands transact with each other,” said Ryan G. Smith, CEO and Co-Founder. “As cannabis rapidly evolves, it is essential that our platform keeps up with the changing needs of our customers as we provide critical liquidity to the industry.”

Earlier this month, Leaflink announced a new pricing model by way of a bundled package of offerings from its full platform of logistics solutions, payment tools, and other services that could save cannabis businesses about 20% per month or more in operational costs.

Related Story: Cannabis Cash Spells Opportunity for Fintechs

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Digital Assets: 1% Of Chileans Sign Up For Worldcoin; Rush Seen In Argentina, Too
September 28, 2023     Digital Assets, News

Worldcoin, the innovative biometric wallet and ID project, is making significant waves in Chile as it surpasses a remarkable milestone. The organization has reported that over 200,000 Chileans have embraced…
FinTech: Atom Bank And Kamma To Partner For Greening UK Mortgage Assets
September 28, 2023     ESG and Sustainability, FinTech, News, Real Estate

Atom bank and Kamma have formed a significant partnership aimed at addressing the pressing concerns of climate change. This collaboration brings together Atom bank’s cutting-edge banking technology with Kamma’s climate…
Venture Capital: Slope, A B2B Solutions Provider Backed By Sam Altman, Scores $30M Funding

Slope, a two-year-old AI startup based in San Francisco, has secured a substantial $30 million equity round led by Union Square Ventures and featuring participation from OpenAI’s CEO, Sam Altman….
Artificial Intelligence: Palantir Awarded $250M Contract By US Department Of Defense For AI R&D
September 28, 2023     Artificial Intelligence, Latest News, News

Palantir Technologies Inc. (NYSE: PLTR) has secured a significant contract worth $250 million with the US Defense Department. The primary focus of this contract is the research and development of…