LeafLink, a marijuana industry wholesale inventory and ordering platform, raised $250 million in a credit financing deal to help provide liquidity to the cannabis supply chain.
The New York-based company said its supply chain financing arm closed the senior secured credit facility with a private commercial lender, but terms weren’t disclosed.
A credit facility enables a company to draw on funds as it needs them.
The transaction could be a sign that cannabis capital markets are loosening some.
According to a news release, LeafLink plans to use the capital to provide liquidity directly to licensed cannabis businesses at a time when they face challenges such as limited access to basic financial services.
The company said its platform currently operates in 26 North American “territories,” enabling more than 5,000 retailers to order wholesale cannabis products directly through LeafLink’s e-commerce marketplace.
Written by Jeff Smith.
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Marijuana Business Daily