LeafLink, a NYC-based provider of a cannabis wholesale platform, acquired Dama Financial, a provider of a cannabis banking platform.
The amount of the deal was not disclosed.
The acquisition will expand financial solutions for cannabis operators.
With over $3 billion in processed transactions, Dama Financial is one of the largest cannabis-focused banking solutions in the industry and serves more than half of the cannabis-legal states in the United States. With the expertise of banking and payments industry veterans, Dama Financial has been at the forefront of providing access to FDIC-insured banking partners that include everything from checking accounts and payment processing, to cash pickup services and on-site smart safes, all while ensuring transparency and compliance with current banking and cannabis regulations.
Led by CEO Artie Minson, LeafLink provides a platform that offers a suite of services for cannabis brands and retailers, including integrated tools like order and category management, payments, data and analytics and advertising. As a result of performance, organic growth opportunities, and focused mission to be the B2B operating system for the regulated cannabis industry, it recently upsized its Series D fundraising round from $100M to $125M. Investors in the Series D financing include CPMG, Nosara, L2 Ventures, Thrive Capital, and Tiger Global.
