Sales, Funding & Banking News

Cannabis software company raises $3.2 million

A Florida-based company whose software helps marijuana retailers implement customer relationship and loyalty strategies has raised $3.2 million. Boca Raton-based Springbig has now raised a total of $6.3 million, according to a company news release. The company’s latest funding round was led by Green Acre Capital and Halley Venture Partners, according to Springbig, and members […]

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Denver marijuana tech firm Baker raises $8 million

Baker, a marketing automation software company serving marijuana dispensaries, has secured $8 million in Series A funding, bringing its total capital raises to $11.75 million. Denver-based Baker will use the money to fuel growth in California and Washington state, according to a company news release. The company – which some dub the Salesforce of cannabis – […]

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Aphria inks deal to secure CA$100 million for M&As, expansion

One of Canada’s largest medical marijuana producers announced a stock-purchase deal to raise 100 million Canadian dollars ($77.7 million) in capital, which it intends to apply to the construction of new production facilities globally and in Canada. To date in fiscal 2017, Aphria has raised CA$237 million, CFO Carl Merton told Marijuana Business Daily. This does not […]

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Marijuana real estate company files for $100 million raise

A San Diego-based real estate company that caters to medical cannabis cultivators has filed paperwork with the Securities and Exchange Commission disclosing plans to raise $100 million. If successful, Innovative Industrial Properties’ raise would be one of the larger funding efforts for a U.S. cannabis business. The company – which began listing as IIPR on the New […]

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Cannabis online platform raises $10 million

LeafLink, an online inventory and ordering platform for marijuana businesses, has raised $10 million in Series A funding. The round was led by Nosara Capital, a London-based venture capital firm, according to a LeafLink news release. Nosara was joined by previous LeafLink investors from both inside and outside the cannabis space, such as Lerer Hippeau Ventures, […]

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CA treasurer pushes state-run bank for cannabis businesses

California’s state treasurer isn’t waiting on the federal government to solve marijuana businesses’ banking problem. Treasurer John Chiang and members of a working group he formed are calling on California officials to create a state-government-run bank to serve marijuana companies, the Los Angeles Times reported. The recommendation by Chiang’s group bolsters a growing movement that wants cities and states […]

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Poseidon aims to raise up to $150M for new cannabis fund

Poseidon Asset Management – a San Francisco-based investment company focused on the cannabis industry – has launched a second fund with the goal of raising $100 million to $150 million from investors. If Poseidon achieves that goal, the investment fund would be one of the largest in the marijuana industry. The company did not detail […]

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Public banks offer hope for marijuana businesses, but will they arrive in time?

By Omar Sacirbey With most private institutions and credit unions still avoiding the legal cannabis industry, many marijuana businesses remain without bank accounts. But one idea is gaining acceptance among MJ entrepreneurs and a growing number of cities and states: the formation of public banks to serve the cannabis industry.

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MedMen seeks $250 million raise for marijuana private equity fund

Marijuana management firm MedMen is aiming to raise $250 million to invest in cannabis businesses in the California, Nevada and New York markets. The fund, called MedMen Opportunity Fund II, is going to specifcially target plant-touching companies, including retailers and growers, Bloomberg reported. The fund will also look particularly at tourist destinations, including Los Angeles, […]

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