Dama will leverage the new round of investment to accelerate its already impressive growth, continue to address the lack of financial service products being offered to the cannabis industry, recruit top talent, and scale the business with the backing and support of its investors. Dama Financial (“Dama”) the premier provider of access to banking and payment solutions through its FDIC-insured banking partners for the rapidly growing legal cannabis industry, today announced the completion of its $12.6 million Series B funding round, bringing Dama’s total funding to approximately $24 million to date. The round was led by a group of strategic new investors. Currently serving over 7% of the legal cannabis businesses in California, operational in 12 states, and with over 50,000 consumers with digital wallets in the United States, Dama has processed over $2 billion in transaction value since inception.

Cannabis Business Executive – Cannabis and Marijuana industry news, 04/20/2021 22:15:00

Open article: https://www.cannabisbusinessexecutive.com/2021/04/dama-financial-the-leading-provider-of-access-to-banking-and-financial-solutions-for-cannabis-businesses-announces-the-completion-of-12-6-million-growth-equity-raise/