Dama Financial
Dama Financial, a LeafLink subsidiary, provides banking, credit, payments, and funding to licensed U.S. cannabis operators via FDIC-insured partner banks, serving hundreds of operators across 34 states with compliance-first accounts and Visa-licensed cards.
- Company typePrivate
- Founded2018
- HeadquartersSouth San Francisco, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Dama Financial does
Dama Financial is a U.S. cannabis-focused fintech that delivers banking, payments, credit, and financing services to licensed cannabis operators who are systematically excluded from mainstream financial institutions due to federal prohibition. The company operates as a fintech intermediary rather than a chartered bank, routing FDIC-insured deposit accounts through partner banks OMB Bank, First Option Bank, and Dart Bank, and issuing Visa-licensed credit cards via First Option Bank. Its core product suite comprises business checking and savings accounts with cannabis-friendly policies, secure credit cards with cash-back rewards, business funding up to $250,000, and add-on cash handling and payroll modules. The platform is SOC 2 Type II certified and emphasizes compliance-first onboarding, no-sudden-shutdown account policies, and 24/7 online banking with ACH, wire, and check payment rails.
The business operates a hybrid revenue model combining subscription-style account fees with transaction-based fees and usage-based credit pricing. Following its July 2024 acquisition by LeafLink, Dama Financial now functions as the banking arm of LeafLink's cannabis wholesale commerce platform, inheriting distribution across 34 U.S. states and access to a buyer pool that processes tens of billions of dollars in cannabis GMV. The company previously expanded its SaaS surface through the October 2023 acquisition of Candid AI (personalized product recommendations) and the January 2022 acquisition of GrowFlow (wholesale/retail operational tooling). The legal entity is LeafLink Financial Services, LLC, and the Dama Financial brand is marketed as a subsidiary of LeafLink.
Dama Financial firmographics
Firmographics- Name
- Dama Financial
- Legal name
- LeafLink Financial Services, LLC
- Website
- https://damafinancial.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Acquired
- Headcount range
- 1–10 employees
- Short description
- Dama Financial, a LeafLink subsidiary, provides banking, credit, payments, and funding to licensed U.S. cannabis operators via FDIC-insured partner banks, serving hundreds of operators across 34 states with compliance-first accounts and Visa-licensed cards.
- Ownership category
- akta.pro rank
Dama Financial industry classification
Industry- Product category
- Cannabis Banking
- NAICS
- Credit Intermediation and Related Activities (522)
- SIC
- Functions Related To Depository Banking, Nec (6099), Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- BaaS Platforms & Sponsor Bank Enablement (FSAGALAA)
- akta.pro secondary industries
- A2A Reconciliation, Reporting & Treasury Ops (FSAMAFAJ), Deposit Operations (Account Maintenance, Fees, Reconciliations) (FSABALAE)
Keywords
Where Dama Financial is headquartered
LocationHeadquarters
- HQ city
- South San Francisco
- HQ country
- United States
- HQ region
- North America
Markets served
Dama Financial business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Business Banking Services: Dama Financial generates revenue through business checking and savings accounts with cannabis-friendly policies, credit card issuance, and business funding/financing services. The company partners with OMB Bank, First Option Bank, and Dart Bank to provide FDIC-insured deposit services.
- Financial Services for Cannabis Operators: Provides banking, payments, and financial solutions to licensed cannabis businesses, generating revenue through transaction fees, account fees, and credit services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Business Accounts - Checking and Savings |
| Subscription | Monthly | Secure Credit Cards |
| Usage-based | Pay-as-you-go | Business Funding - Up to $250,000 |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
Dama Financial product offering
Product offeringCore offering
Dama Financial provides specialized banking, payments, credit, and funding products to licensed U.S. cannabis operators. Core offerings include business checking and savings accounts with cannabis-friendly policies, secure business credit cards with cash-back rewards, and business funding of up to $250,000, complemented by cash handling and payroll services. Banking and deposit services are delivered through partner banks (OMB Bank, First Option Bank, Dart Bank), while Dama Financial operates the fintech interface and compliance layer.
Product overview
Dama Financial, now part of LeafLink, provides a comprehensive suite of banking and payment solutions specifically designed for the regulated cannabis industry. The product portfolio centers on three core offerings: Business Accounts (checking and savings with cannabis-friendly policies), Secure Credit Cards (business expense management with rewards), and Business Funding (up to $250,000 in financing). These are complemented by ancillary services including Cash Services and Payroll. The company previously expanded its capabilities through the acquisition of Candid AI, a digital e-commerce platform that added personalized product recommendation functionality. All services are delivered through a secure, compliant platform with 24/7 online banking access.
Differentiator
Problem solved
Functional benefit
Products and services
- Business Accounts
Companies that use Dama Financial
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles1 record
Dama Financial technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability1 record
Feature1 record
Dama Financial partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- LeafLinkcoreLeafLink, a leading cannabis wholesale platform operating across 34 U.S. states, acquired Dama Financial's banking division in July 2024. This acquisition integrated Dama's banking platform into LeafLink's suite of commerce, payments, and operational tools for the regulated cannabis industry, creating an integrated banking solution to address financial service challenges faced by cannabis operators.
- Candid AIminorDama Financial was acquiring Candid AI, a digital e-commerce platform, to expand its integrated SaaS solutions. The integration aimed to offer personalized product recommendations and streamline operations for cannabis businesses.
- OMB BankcoreOMB Bank is one of Dama Financial's banking services partners, providing FDIC-insured deposit accounts for cannabis businesses. Deposits in checking and savings accounts are held by OMB Bank, with deposit insurance covering the failure of an insured bank.
- First Option BankcoreFirst Option Bank is a banking services partner providing FDIC-insured accounts and issuing the purchasing credit card under a Visa license. Dama Financial's credit card products are issued by First Option Bank, Member FDIC.
- Dart BankcoreDart Bank is one of Dama Financial's banking services partners providing FDIC-insured deposit accounts for cannabis business checking and savings accounts.
Scale indicators2 records
Recent moves5 records
Expansion highlights5 records
Dama Financial competitors and assessment
Company assessmentBroad incumbents
- Cova: Cannabis point-of-sale platform with payment processing integrations; competes in the cannabis-tech stack with payments and merchant services that overlap with Dama's banking rails.
- Dutchie: Major cannabis commerce and payments platform offering online ordering, POS, and payment processing to dispensaries — broader cannabis-tech incumbent increasingly expanding into financial services adjacent to Dama.
- Treez: Cannabis retail POS and ERP platform with integrated payments and cash management features — overlaps with Dama's cash services and credit offerings as a broader commerce-tech incumbent.
- Akerna (now part of Tipping Point Solutions): Cannabis compliance, ERP, and seed-to-sale platform offering operator tooling plus adjacent financial workflow features; competes more broadly with Dama's cannabis-vertical software ambition.
Direct peers
- Bespoke Financial: A cannabis-focused fintech offering banking, credit, and payment products to licensed operators; competes head-to-head with Dama in the compliance-first cannabis banking niche.
- Hypur: Cannabis-specialized payments and compliance platform offering ACH, e-check, and banking integrations for dispensaries and operators — overlapping directly with Dama's payments and banking rails.
- PayQwick: Cannabis payments platform providing compliant e-commerce and in-store payment processing plus banking integrations; competes with Dama on the cannabis-payments side of the stack.
- Safe Harbor Financial: One of the leading cannabis-banking-as-a-service platforms in the U.S., providing deposit accounts, ACH, and lending to licensed cannabis operators — directly competing with Dama Financial on the same vertical and product set.
- Green Check Verified: Cannabis payments-compliance and banking enablement platform connecting dispensaries to sponsor banks; addresses the same cannabis banking access problem as Dama with a similar B2B SaaS-plus-fintech model.
- Klear Trust: Cannabis-specific banking and merchant services provider offering debit, online banking, and cash handling to dispensaries — direct overlap in core cannabis banking products with Dama.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Dama Financial social profiles
Digital presenceDama Financial compliance and trust
Trust signalCompliance1 record
Dama Financial financial estimates
Financial estimateRevenue estimate
Valuation estimate
Dama Financial leadership team
Management profileNumber of profiles
Profiles2 records
Dama Financial subsidiaries and ownership
Company hierarchySubsidiaries1 record
Dama Financial funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Dama Financial M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Dama Financial
What does Dama Financial do?
Dama Financial provides specialized banking, payments, credit, and funding products to licensed U.S. cannabis operators. Core offerings include business checking and savings accounts with cannabis-friendly policies, secure business credit cards with cash-back rewards, and business funding of up to $250,000, complemented by cash handling and payroll services. Banking and deposit services are delivered through partner banks (OMB Bank, First Option Bank, Dart Bank), while Dama Financial operates the fintech interface and compliance layer.
Is Dama Financial a public or private company?
Dama Financial is a private company. It is classified as corporate owned and is currently acquired.
When was Dama Financial founded?
Dama Financial was founded in 2018. It employs 1 to 10 people.
Where is Dama Financial based?
Dama Financial is headquartered in South San Francisco, United States, in the North America region.
How does Dama Financial make money?
Two revenue lines are on record. Business Banking Services are the primary driver. The others are financial Services for Cannabis Operators.
Who are Dama Financial's main competitors?
Broad incumbents on record are Cova, Dutchie, Treez and Akerna (now part of Tipping Point Solutions). Direct peers are Bespoke Financial, Hypur, PayQwick, Safe Harbor Financial, Green Check Verified and Klear Trust.
Does Dama Financial have an API?
No public API is recorded for Dama Financial.
What industry is Dama Financial in?
Dama Financial's product category is Cannabis Banking. Its primary akta.pro industry code is FSAGALAA, BaaS Platforms & Sponsor Bank Enablement, with a secondary code of FSAMAFAJ, A2A Reconciliation, Reporting & Treasury Ops. Its NAICS code is 522 and its SIC code is 6099.