Bespoke Financial, the nation’s first cannabis-focused fintech lending platform, announced today the closing of a $125 million credit facility. This infusion of capital from institutional investment funds is a strong show of confidence in cannabis debt financing as well as in Bespoke Financial’s approach to working with these businesses. The company has effectively mainstreamed cannabis lending by providing a comprehensive technology platform and data-driven application process enabling licensed cannabis operators to access financing quickly and seamlessly, as evidenced by the company’s automated pre-qualification for dispensary financing. Bespoke has been at the forefront of the industry trend toward debt financing, working with both large and small companies of all license types, including brands like Jeeter, Buddies, Claybourne Co., and Friendly Farms. Since the company’s launch more than three years ago, Bespoke has provided funding for a growing number of businesses spanning the entire cannabis supply chain. The company now works across the country in 12 regulated markets from California to Maine, financing lines of credit in amounts as large as $15 million.

Published Ncv Newswire, New Cannabis Ventures, 12/01/2021 09:33:00

Open article: