October 6, 2022

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Sept 21 (Reuters) – Wholesale cannabis platform LeafLink said on Wednesday its payment solutions have processed more than $1 billion in transactions since the company was founded in March 2016.

LeafLink is the cannabis industry’s business-to-business platform that helps distributors and retailers manage their operations, create, pay for and ship their orders.

More states in the US are moving towards allowing the sale of recreational cannabis, highlighting the continued support and demand for cannabis since the introduction of quarantines during the COVID-19 pandemic.

“As cannabis evolves rapidly, it is essential that our platform keeps pace with the changing needs of our customers as we provide critical liquidity to the industry,” said Ryan Smith, Chief Executive Officer and Co-Founder of LeafLink.

Backed by venture capital firms and investors including Founders Fund, Thrive Capital, Nosara Capital and Lerer Hippeau, LeafLink has raised more than $131 million in equity to date, as well as $250 million in debt.

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Reporting by Ankit Kumar in Bengaluru; Editing by Krishna Chandra Eluri

Our standards: Thomson Reuters Trust Principles.

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