+ 1.81
+ 0.61%

Josh Kushner's Thrive Capital Enters Cannabis Space, Leads LeafLink's $35M Series B Round

August 8, 2019 11:08 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More

The cannabis wholesale marketplace LeafLink announced the completion of a $35-million Series B funding round Wednesday.

The round was led by Thrive Capital, with additional participation from Nosara Capital, Lerer Hippeau, Wisdom VC and Thought Into Action Ventures.

The funding will be used to drive LeafLink’s expansion of its wholesale marketplace, which already processes over $1 billion in e-commerce orders each year, the company said. 

The funds will also go toward the company’s expansion plans, including recruitment efforts in both its Los Angeles and New York offices. A particular focus is being put on the company’s LeafLink Financial feature, which offers businesses a payment and credit managing system.

Don’t miss out on the top cannabis stories of the day. Click here to sign up for our daily insider newsletter.

“Two years ago, we welcomed Lerer Hippeau to the cannabis industry in our seed round, and we are proud to now welcome Thrive Capital to the space through their investment in LeafLink,” LeafLink co-founder and CEO Ryan Smith said in a statement.

“We look forward to solidifying our place as a leader in this rapidly evolving industry by bringing the best products and solutions to the LeafLink community and beyond.”

Thrive Capital, founded in 2009 by Josh Kushner, is entering the cannabis space with this investment.

Kushner is the brother of Jared Kushner, senior advisor and son-in-law to President Donald Trump.

Benzinga's Cannabis Capital Conference heads to Detroit on Aug. 15 — click here to learn more!

Related Articles

AgraFlora Secures Agriculture Loan To Support Phase 1 Cultivation Strategy

AgraFlora Organics International Inc. (CSE: AGRA) (PINK: AGFAF) said its joint venture venture with the Houwelings Group — Propagation Services Can read more

Auxly Secures $12M In Financing

Auxly Cannabis Group Inc. (TSXV: XLY) (OTCQX: CBWTF) has secured $12 million in financing. read more

UPDATE: Tilray Says Effectively Agreed To Repurchase A Portion Of Notes At 42% Discount To Face Value

Tilray, Inc. Announces Agreement To Exchange An Additional $72.9M In Principal Amount Of Its 5.00% Convertible Senior Notes Due 2023 For Common Stock

earch, cultivation, production and distribution, today announced that it has entered into privately negotiated exchange agreements with certain holders of its 5.00% Convertible Senior Notes due 2023 (the read more

Australia's Cann Group Ensures $50M Loan To Support Facility Completion

Australian cannabis company Cann Group Limited (ASX: CANN) (PINK: CNGGF) revealed Monday it has obtained credit approval from National Australia Bank (NAB) for its $50 million secured debt facility. read more