What LeafLink does

LeafLink is a B2B wholesale commerce platform purpose-built for the licensed U.S. cannabis industry, founded in March 2016 by Ryan G. Smith and Zach Silverman and headquartered in New York City. The platform connects cannabis brands, distributors, and retailers through a regulated marketplace spanning 30–34 U.S. states, processing over $5B in annual gross merchandise value (GMV) and claiming 50%+ of U.S. wholesale cannabis transactions. The technology stack combines an online B2B marketplace, a built-in CRM, embedded payments (ACH, net terms, and the Payment on Sell-Through product), logistics orchestration, advertising, and a data/analytics layer (LeafLink Insights, myBI, MarketScape). Native integrations with state-mandated seed-to-sale traceability systems (Metrc, BioTrack, Wherefour) and major ERPs/CRMs/accounting platforms (Salesforce, QuickBooks, Microsoft Dynamics 365, Distru, Flourish, Canix, Dutchie, Sage Intacct) automate compliance and back-office workflows; the platform is SOC 2 compliant (A-LIGN audited).

The product surface was materially expanded in 2024 via two acquisitions: Dama Financial's banking division (July 2024), adding cannabis-specific banking (business accounts, credit cards, cash services, business funding up to $250K, payroll) delivered through FDIC-member partner banks (OMB Bank, First Option Bank, Dart Bank); and Leaf Trade (November 2024), a competitor wholesale marketplace whose combination with LeafLink brings combined estimated wholesale GMV to ~$9B annually. LeafLink is multi-stream on the revenue side: brand-side SaaS subscriptions (quote-based on volume, location, license type), retailer freemium with a paid LeafLink Plus membership, payment processing and PoST transaction fees, Dama Financial banking fees, logistics transaction fees, marketplace advertising, and Insights/Premium analytics subscriptions. The company has raised approximately $185M in equity across Series A–D ($10M Series A in Nov 2017, $35M Series B in Aug 2019, $40M Series C in Dec 2020, $100M Series D in Feb 2023 expanded to $125M in July 2024) plus a $250M debt facility in 2020 to finance LeafLink Payments. The Series D was led by CPMG, L2 Ventures, and Nosara Capital, with Founders Fund and Thrive Capital participating in prior rounds. Leadership transitioned from co-founders to Artie Minson (CEO from February 2023) and then to Ashwin Raj (CEO from September 2025), a former Lyft marketplace/fintech operator — a signal commonly associated with pre-exit or pre-IPO institutionalization.

Name

LeafLink

Legal name

LeafLink, Inc.

Website

https://leaflink.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

101–250 employees

Short description

LeafLink is a B2B wholesale commerce, payments, banking, logistics, and analytics platform purpose-built for the licensed U.S. cannabis industry, connecting 3,500+ brands and 8,000+ dispensary buyers across 34 states and processing over $5B in annual GMV (~$9B combined after the Leaf Trade acquisition).

Ownership category

akta.pro rank

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure, Others

Revenue model

1. Brand SaaS subscription and marketplace listing fees: Subscription-based revenue from cannabis brands paying for a LeafLink Marketplace storefront, CRM, and bundled platform access. Pricing is quote-based on brand volume, location, and license type. Bundled pricing reportedly reduces customer monthly operational expenses by 20% on average.
2. Retailer sign-up (free) with paid Plus membership and transaction-driven revenue: Retailers sign up to shop the marketplace for free; paid LeafLink Plus membership offers retailers upgraded tools such as inventory insights and cash back; the platform also processes payments, generating transaction-driven revenue on the buy side.
3. LeafLink Payments processing and PoST (Payment on Sell-Through): Revenue from payment processing fees on ACH, net terms, and PoST transactions across the marketplace. Customers have used LeafLink to manage over $5B in annual GMV and over $1B in payments transactions processed.
4. Dama Financial banking fees and financial services: Revenue from cannabis-business banking, smart safe rental, armored cash pickup, business funding, credit/debit card interchange, and payroll services. Fees are charged on most deposits and are inclusive of partner-bank fees; armored courier and smart safes are quoted separately. Banking services are delivered through FDIC member partner banks (OMB Bank, First Option Bank, Dart Bank) but Dama itself is a fintech, not an FDIC-insured bank.
5. Logistics and fulfillment fees: Revenue from LeafLink Logistics, including fulfillment center storage, pick and pack, and last-mile delivery via partner couriers (e.g., Green Parcel Service in Colorado). 100,000+ orders have been delivered via LeafLink Logistics.
6. Insights and data analytics subscriptions: Revenue from LeafLink Premium Membership and Insights products (myBI, MarketScape, Ad Insights) that deliver SKU, account, market, and advertising performance analytics.

Pricing tiers

Go-to-market motion5 records

Distribution channels7 records

Marketing channels12 records

Core offering

LeafLink operates a B2B wholesale cannabis commerce platform that connects licensed cannabis brands, distributors, and retailers on a single regulated marketplace for online ordering, branded shoppable menus, and purchase-order management. Layered on the marketplace are embedded payments (ACH, net terms, and PoST/Payment on Sell-Through), cannabis-specific banking through Dama Financial (checking, savings, cards, cash services, funding up to $250K, payroll), orchestrated B2B logistics with a 99% on-time delivery rate, B2B advertising, and a data/insights analytics layer — all natively integrated with state-mandated seed-to-sale traceability systems and major ERP/CRM platforms.

Product overview

LeafLink operates as a platform-plus-modules architecture for the cannabis industry, anchored by the core LeafLink Marketplace (and the acquired Leaf Trade marketplace) where brands list catalogs and retailers place wholesale orders. Layered on top are commerce and financial-services modules — LeafLink Payments (Direct Pay, Flexible Payments, PoST), LeafLink Logistics for fulfillment, LeafLink Advertising for B2B promotion, and LeafLink CRM for retailer relationship management — while the data product LeafLink Insights (MarketScape, myBI, Premium Members / LeafLink Plus) provides analytics. Acquired Dama Financial extends the platform with cannabis banking (business accounts, credit cards, funding, cash services, payroll), and the LeafLink Developer Hub exposes APIs for technical integrations.

Differentiator

Problem solved

Functional benefit

Brands

• Dama Financial: Cannabis banking and financial services brand acquired by LeafLink in July 2024; offers business checking and savings accounts, credit cards, cash management, armored courier, smart safes, credit/financing, and payroll services, operated by LeafLink Financial Services, LLC.
• Leaf Trade

Products and services

• LeafLink Marketplace B2B wholesale cannabis marketplace where licensed brands list catalogs and create branded shoppable menus, and dispensary retailers browse and place purchase orders across 34 U.S. state markets. The marketplace anchors LeafLink's commerce platform and integrates with payments, CRM, logistics, advertising, and analytics modules.
• LeafLink Payments (Direct Pay, Flexible Payments, PoST) Embedded cannabis payments suite offering ACH, net terms, and PoST (Payment on Sell-Through) deferred settlement for wholesale cannabis transactions. Processes payments on transactions across the marketplace and has handled $1B+ in payments transactions.
• LeafLink Logistics B2B cannabis delivery and fulfillment service offering automated shipping, fulfillment-center storage, pick-and-pack, and last-mile delivery via licensed couriers with custom driver mobile app, real-time GPS tracking, and integrated compliance. Claims 99% on-time delivery with 100,000+ orders delivered.
• LeafLink Advertising B2B advertising platform that lets cannabis brands promote products to active wholesale cannabis buyers via sponsored brand placements, sponsored product listings, display ads, and email campaigns sent directly to LeafLink purchasing managers. Campaigns can go live in 48 hours or less and are supported by Ad Insights analytics.
• LeafLink Insights (myBI, MarketScape, Ad Insights, Premium Membership) Data analytics and market-intelligence product suite that delivers SKU performance, account-level, and market-level wholesale cannabis data, advertising performance reports, and inventory insights to inform pricing, assortment, and growth decisions. Powered by data from 5M+ wholesale transactions and 398,000–400,000+ SKUs across 18 markets.
• Dama Financial Premier Business Account (Cannabis Banking) Cannabis-specialized banking and financial services platform offering business checking and savings accounts, credit/debit cards, smart safes, armored courier cash pickup, business funding up to $250,000, and payroll. Delivered to cannabis-licensed and ancillary operators through FDIC-member partner banks with FinCEN SAR/CTR/quarterly reporting and BSA/AML compliance.
• Leaf Trade Marketplace Wholesale cannabis marketplace acquired by LeafLink to expand buyer/seller network coverage and streamline technology for the cannabis supply chain. Operates alongside the core LeafLink Marketplace.

Quantifiable outcome

• 50%+ share of US wholesale cannabis transactions processed on the platform
• +13 more outcomes

Named customers31 records

Segments6 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration16 records

AI capability4 records

Feature10 records

Partnerships

21 partnerships are on record, tiered acquired; flagship banking franchise, strategic distribution partnership for banking services, major acquisition; expands combined gmv to ~$9b/year, flagship nonprofit / social equity partner, core compliance integration, compliance integration for traceability, major accounting integration, major crm integration, core cannabis erp integration, major cannabis erp integration, cannabis erp integration, retail tech integration, major erp integration, inventory management integration, cannabis operations integration, inventory/order sync integration, infused-product manufacturing integration, key logistics partner in colorado and industry association memberships (signaling sector leadership).

• Dama Financialacquired; flagship banking franchiseStrategic or Co-development PartnerLeafLink acquired Dama Financial's banking division on July 24, 2024. Dama Financial is a major cannabis banking platform founded in 2016 that provides cash services, business accounts, credit, business funding (up to $250,000), credit/debit cards, and payroll through FDIC-member partner banks.
• Confiastrategic distribution partnership for banking servicesGTM or Marketing PartnerOn September 3, 2025, LeafLink announced a partnership with Confia to deliver best-in-class cannabis banking services, bringing LeafLink's suite of financial and banking solutions to Confia's customers.
• Leaf Trademajor acquisition; expands combined gmv to ~$9b/yearStrategic or Co-development PartnerLeafLink acquired wholesale marketplace Leaf Trade on November 26, 2024. The combined companies are estimated to facilitate nearly $9 billion in wholesale gross merchandise value (GMV) yearly and further streamline technology across the cannabis supply chain.
• Last Prisoner Projectflagship nonprofit / social equity partnerGTM or Marketing PartnerLeafLink partnered with Last Prisoner Project (LPP), a nonprofit dedicated to cannabis criminal-justice reform. Retailers can donate to LPP via a button on the Order Confirmation page, and brands can access the same donation link from the Seller Homepage.
• Metrccore compliance integrationTechnology or IntegrationMetrc (Marijuana Enforcement Tracking Reporting and Compliance) is integrated with LeafLink to import seed-to-sale traceability data and automatically add compliance tags to products.
• Biotrack (BioTrack)core compliance integrationTechnology or IntegrationBioTrack is integrated with LeafLink to automate the flow of data from LeafLink to the seed-to-sale system, eliminating duplicative data entry and discrepancies.
• Wherefourcompliance integration for traceabilityTechnology or IntegrationWherefour is integrated with LeafLink to manage cannabis inventory, ensure compliance, and access real-time data via a simple ERP platform.
• Quickbooksmajor accounting integrationTechnology or IntegrationQuickBooks is integrated with LeafLink to provide accounting services, from income and expense tracking to invoicing and cash flow management.
• Salesforcemajor crm integrationTechnology or IntegrationSalesforce is integrated with LeafLink to unite sales, service, marketing, commerce, and IT teams with a single view of customer information.
• Distrucore cannabis erp integrationTechnology or IntegrationDistru is integrated with LeafLink as a supply chain software that helps operators manage their inventory, orders, and customers from a single interface.
• Flourishmajor cannabis erp integrationTechnology or IntegrationFlourish is integrated with LeafLink as a robust ERP servicing all license holders across the cannabis supply chain; LeafLink's blog highlights automation of operations for brands via the Flourish integration.
• Canixcannabis erp integrationTechnology or IntegrationCanix is integrated with LeafLink as a cannabis ERP that provides a suite of tools for cannabis cultivators, manufacturers, and distributors.
• Dutchieretail tech integrationTechnology or IntegrationDutchie is integrated with LeafLink to improve collaboration, help manage and track inventory, and provide insights.
• Microsoft Dynamics 365major erp integrationTechnology or IntegrationMicrosoft Dynamics 365 is integrated with LeafLink as an ERP that connects systems to drive revenue, manage supply chain, and optimize business operations.
• Fishbowlinventory management integrationTechnology or IntegrationFishbowl is integrated with LeafLink to provide inventory controls, vital record keeping, and product traceability.
• Kanhacannabis operations integrationTechnology or IntegrationKanha is integrated with LeafLink as a high-performance business automation software for the complex operations of the cannabis industry.
• Max Q Cannabiscannabis erp integrationTechnology or IntegrationMax Q Cannabis is integrated with LeafLink as an ERP that includes production tracking and a seed-to-sale suite.
• Roshiinventory/order sync integrationTechnology or IntegrationRoshi is integrated with LeafLink to sync products, inventory, and orders.
• Batchbudinfused-product manufacturing integrationTechnology or IntegrationBatchbud is integrated with LeafLink for batch and inventory management for infused-product manufacturers.
• Green Parcel Servicekey logistics partner in coloradoChannel Partner/ Reseller/ DistributorIn 2022, LeafLink partnered with Green Parcel Service (GPS) to launch LeafLink Logistics in Colorado, providing software-enabled, B2B cannabis delivery and last-mile fulfillment for brands.
• National and state cannabis industry trade associations (Michigan Cannabis Industry Association, California Cannabis Operators Association, Pennsylvania Cannabis Coalition, Cannabis Marketing Association, NCIA, MoCannTrade, CDA, ATACH)industry association memberships (signaling sector leadership)OthersLeafLink displays member logos of multiple national and state cannabis trade associations, including Michigan Cannabis Industry Association, California Cannabis Operators Association (CANY), Pennsylvania Cannabis Coalition, Cannabis Marketing Association, NCIA, MoCannTrade, CDA, and ATACH.

Scale indicators18 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Dutchie: Dutchie is a leading cannabis retail technology platform (point-of-sale, e-commerce, inventory) with integrations to LeafLink. While primarily retail-focused, Dutchie competes for the same operator wallet and overlaps with LeafLink's marketplace, payments, and insights capabilities.
• Distru: Distru is a cannabis ERP and inventory management platform integrated with LeafLink for brands. Both target the same licensed-cannabis operator base with seed-to-sale, ERP, and order management functionality, making Distru the closest direct competitor in the wholesale operations stack.
• Canix: Canix is a cannabis ERP that helps cultivators, manufacturers, and distributors manage inventory and orders, and is integrated with LeafLink. Comparable as a direct competitor to LeafLink's brand-side workflow and ERP integrations.
• Flourish: Flourish is a cannabis ERP serving all license holders across the supply chain and is integrated with LeafLink. It competes with LeafLink for brand and distributor operational software wallets and offers comparable seed-to-sale compliance.
• Safe Harbor Financial: Safe Harbor Financial is a cannabis banking and financial-services platform providing deposit, lending, and payment services to cannabis operators. It directly competes with the Dama Financial (LeafLink) banking franchise for cannabis banking wallet share.
• BioTrack (by Global Trac Solutions): BioTrack is a state-mandated seed-to-sale traceability system integrated with LeafLink. It is a direct competitor in compliance software and competes for the operator compliance wallet that anchors LeafLink's marketplace and Payments flows.
• Leaf Trade (now part of LeafLink): Leaf Trade was a wholesale cannabis marketplace that LeafLink acquired in November 2024. Pre-acquisition, it was a direct competitor running parallel B2B marketplaces with overlapping brand and retailer bases; it is now operated under LeafLink but historically defined the wholesale marketplace category alongside LeafLink.

Emerging players

• SpringBig: SpringBig is a cannabis CRM and marketing automation platform focused on retailer-consumer loyalty. It is adjacent rather than directly overlapping with LeafLink's wholesale marketplace, but competes for a share of the brand-and-retailer software budget.
• Wherefour: Wherefour is a cannabis inventory and ERP platform integrated with LeafLink. It overlaps with LeafLink's brand-side ERP integrations and competes for cannabis operator software spend, though it is a smaller, more niche player.
• Hypur: Hypur is a cannabis payments and compliance platform that enables ACH, online bill pay, and bank-to-bank transfers for cannabis operators. It competes with LeafLink Payments and PoST for transaction processing volume on the wholesale side.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/leaflinkus
• Facebookfacebook.com/LeafLinkUS
• LinkedInlinkedin.com/company/leaflink

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds9 records

Investors18 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LeafLink