Leading Provider of Payment Solutions Hits Milestone in Transactions to Brands and Retailers, Providing Critical Liquidity to the Cannabis Industry
NEW YORK, Sept. 21, 2022 /PRNewswire/ -- LeafLink, the world's largest online wholesale cannabis platform, today announced that its payment solutions have processed over $1 billion in transactions since the company's inception. This significant milestone for LeafLink's wholesale cannabis payment solutions reflects the company's commitment to bolstering liquidity and cash flow in the industry.
LeafLink's industry-leading platform offers a variety of services to help cannabis businesses in all sectors streamline their operations and eliminate common pain points. Such offerings include Flexible and Direct Payments to help scale growth and facilitate seamless transactions, allowing retailers and brands to choose when and how they are paid. LeafLink Payments solutions increase the speed and security of wholesale transactions for businesses across the country. LeafLink's solutions have now transacted over $1 billion in payment volume to date across 1700 active operators and 22 markets.
"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 of LeafLink. "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. We are incredibly proud to reach the $1 billion milestone in payments transactions and look forward to further expanding the LeafLink community in the coming years."
The Growpacker team is careful to select only the best of the best in terms of systems to support our expanding needs," said Joshua Adriance, Vice President of Growpacker. "LeafLink has proven itself to be a leading player in helping businesses like Growpacker meet our manufacturing and distribution goals. Their payments solutions are a game changer in that they allow us to outlay and collect capital at faster rates with lower risk tolerances, which is undoubtedly necessary in this growing industry."
"With an easy-to-navigate platform and full flexibility and outlook into pricing, confirmations and AR availability, LeafLink has been nothing but a positive asset to Ladybug," said Jake Brookes, COO of Ladybug Farms. "Not only has LeafLink's financial offerings enabled us to schedule out our cashflow with ease, but we have also truly enjoyed working with the LeafLink team. They are communicative, dedicated and offer incredible support and guidance to help us reach our goals."
LeafLink is the cannabis industry's B2B platform and has revolutionized the way thousands of brands, distributors, and retailers manage their operations. The company's industry-defining tools make it easier for cannabis businesses to create, manage, pay for, and ship their orders, so they can focus on growing their businesses. LeafLink's marketplace processed approximately $5 billion in annual orders in 2021, making up an estimated 42% of U.S. wholesale cannabis commerce. Backed by leading venture capital firms and strategic investors including Founders Fund, Thrive Capital, Nosara Capital and Lerer Hippeau, LeafLink has raised more than $131 million of equity to date as well as a $250 million credit facility to provide liquidity to the cannabis supply chain. Learn more at https://LeafLink.com/.