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LeafLink has secured $40 million in funding in a Series C funding.
San Francisco-based venture capital firm Founders Fund led the effort. This is the fund’s largest investment in the cannabis space.
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Leaflink will use the funds to fuel company expansion in new and existing markets across the U.S. The money will also be allocated to launching and scaling product offerings around payments, delivery, and data and analytics.
“2020 has catapulted the cannabis industry in a variety of ways and LeafLink is defining how compliant cannabis companies operate. The LeafLink Community is flourishing, consumers are asking for more, and the industry itself has grown 60% since the beginning of the year with no signs of slowing down,” Leaflink CEO Ryan Smith told Benzinga. “For LeafLink, partnering with a leading tech VC fund like Founders Fund is key as we look to plans for 2021 and beyond. We’re thrilled to be driving significant change to our industry and that we have a partner like Founders Fund to help us do that.”
LeafLink connects cannabis retailers, brands, and distributors via an ecommerce wholesale marketplace to streamline the industry’s supply chain.
Image from company website.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.