FundCanna Chosen by Dama as a Key Partner for Cannabis Lending
13 Mayo 2024 - 7:30AM
FundCanna, the leading provider of capital to the cannabis sector,
announced a partnership with Dama Business Solutions (“Dama”),
which designated FundCanna as a preferred lending partner. Dama is
one of the cannabis industry's leading providers of access to
banking and financial services, powering safe and secure depository
solutions for top licensed cannabis operators, as well as providing
access to electronic consumer payment solutions. The partnership
between Dama and FundCanna provides expanded access to capital and
compliant banking and lending solutions to cannabis businesses.
“In FundCanna’s two and a half years of service to
the cannabis industry, we’ve navigated the many complexities unique
to cannabis; however, like traditional businesses, cannabis
operators have the need for strong banking relationships and access
to flexible and renewable capital,” said Adam Stettner, founder and
CEO of FundCanna. “Banking and access to liquidity is a basic
requirement. Our partnership with Dama gives their clients access
to the required solutions for both their capital and banking needs
in one unified solution. The average FundCanna client grows 54% in
less than a year after working with us. We are bringing our suite
of funding products to unlock growth for Dama’s clients with an
integrated solution. Together, we will empower cannabis companies
to achieve their financial and business goals.”
Historically, access to capital has been a
challenge for businesses operating in the cannabis industry.
FundCanna was founded on the core belief that businesses should
have access to liquidity, flexible terms and renewable solutions.
FundCanna is committed to providing financial services in the
cannabis sector that are designed specifically to support its
unique needs, and through its partnership with Dama, seeks to
provide uniform and convenient access to banking and other services
that historically have been fragmented or unattainable. Alongside
Dama, FundCanna recognizes the tremendous opportunity to broaden
access to capital by offering clients of each business an avenue to
compliant and trusted financing in the cannabis industry.
“Together, Dama and FundCanna are opening doors to
funding for our cannabis clients as we continue to provide
essential services and innovative solutions to help these
businesses thrive,” stated Patrick O’Boyle, CEO of Dama. “We are
eager to collaborate with FundCanna, reaffirming Dama’s commitment
to serving the industry.”
FundCanna’s partnership with Dama benefits both
cannabis operators and the financial institutions that serve them.
With Dama as a known and trusted provider of comprehensive banking
services, point-of-sale and wholesale solutions, its partnership
with FundCanna will assist clients in achieving their goals and
ultimate success by facilitating access to capital and providing
essential services in the cannabis sector.
About DamaBased in San Bruno,
Calif, Dama is the cannabis industry's leading provider of access
to banking and financial services, powering safe and secure
depository solutions for top licensed cannabis operators throughout
the United States as well as providing access to electronic
consumer payment solutions. The company was founded in 2017 by a
team of world-class fintech and payments executives to provide
high-risk industries with critical access to fundamental financial
solutions. In 2022, Dama acquired Growflow, a SaaS seed-to-sale
POS, whose business management and compliance tools have processed
more than $3.3 billion for cannabis businesses. Dama has leveraged
its experience in other unbanked categories to develop solutions,
driven by its proprietary technology platform, capable of
navigating a complex web of regulatory and compliance
requirements.
About FundCannaFundCanna is the
leading source of capital for the cannabis industry nationwide. The
funding products FundCanna offers are customizable, flexible,
renewable and reliable. The financing offered is designed
exclusively for cannabis operations and the ancillary companies
that support the industry. Based in San Diego, California,
FundCanna has underwritten over 2,500 clients and approved over
$275 Million to the cannabis industry across all verticals and in
over 40 states.
FundCanna’s team of experts has provided $20
billion in on-balance sheet funding to underserved businesses and
individuals across the country. Adam Stettner, founder and CEO of
FundCanna, has successfully founded and operated finance companies
for the past 20-plus years, earning numerous national awards and
recognition including EY’s Entrepreneur of the Year and seven
showings on the Inc. 500/5000. Stettner and his team have focused
exclusively on financing licensed cannabis operators and ancillary
providers since 2021.
For more information about cannabis financing,
visit FundCanna.com.
Media Contacts:Patrick MaddoxKCSA
Strategic Communicationsfundcanna@kcsa.com
Dama Media RelationsJenna
Romomarketing@damafinancial.com