How Leaf Trade Works and Ongoing Success
Leaf Trade is a startup that has developed a wholesale cannabis marketplace online available to all states where either marijuana or CBD is legalized. The basic business model of the site is for distribution and growing businesses to open up their own personalized storefront on the marketplace and sell directly to dispensaries and other companies. The business would then approve the invoice and send out the package with the transaction taking place over Leaf Pay, the payment platform created by the startup.
The company has already proven to be incredibly popular within the cannabis industry, having already expanded availability to 20 different markets with more on the way. The startup is also responsible for over $1.5 billion worth of cannabis orders every single year with expectations of business to grow even more in the near future. In comparison to other similar services, the startup currently has a 31% market share on cannabis wholesale, putting Leaf Trade near the forefront of a growing business.
Leaf Trade looks to see continued growth in the near future as well, with the cannabis market growing into new states that have begun to legalize marijuana and CBD. This in turn allows for companies using the startup to expand their own operations.
Leaf Trade’s Funding Round and Future Plans
In Leaf Trade’s Series A funding round, the startup raised $5.5 million. The funding round was led by Artemis Growth Partners with participation from Future Shape 1.5 and Hyde Park Angels. The company plans to use this funding in order to further accelerate the speed of its expansion, especially on the west coast. At the same time, the company plans to reinvest in its own technology in order to bolster the product being offered to customers on both ends.
When commenting on the growth of Leaf Trade and the funding round, Managing Member and co-founder of Artemis Growth Partners, William Muecke said, “We are delighted to fund into what we believe is the best team in the wholesale and payments subsector, and the results of Leaf Trade are nothing less than impressive. Supporting the company with investment partners such as Future Shape 1.5 and Hyde Park Angels only strengthens our long-term opportunity as investors in Leaf Trade. The rapid growth of the cannabis market is supported by companies such as Leaf Trade where integrated trading platforms and seamless payment processing lowers operating costs and increases efficiencies for producers and buyers alike.”
About the Author
Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.