Leaf Trade

What Leaf Trade does

Leaf Trade is a U.S. B2B wholesale marketplace for licensed cannabis operators, founded in 2017 and headquartered in Chicago with a Denver office. The platform connects cannabis cultivators and distributors (sellers) with licensed dispensaries (buyers), enabling product listing, ordering, real-time inventory visibility, built-in messaging, and payment settlement. Its core product is the Leaf Trade Wholesale Marketplace, augmented by Direct Pay (fee-free ACH digital payments), Leaf Trade Advertising (targeted in-platform brand campaigns), and integrations with Metrc and BioTrack seed-to-sale compliance systems plus ERP, finance, and distribution platforms. The company reports $500M+ in annual cannabis orders, $1B+ in annual transactions, 2,000+ brands, 500+ active dispensary buyers, and 50K+ products across 25+ U.S. markets, and holds SOC 1 Type II and SOC 2 Type II compliance certifications.

Leaf Trade generates revenue primarily through marketplace commissions and transaction fees on wholesale orders processed through the platform, with secondary revenue from Direct Pay processing and brand advertising. It operates a hybrid go-to-market: enterprise field sales (book-a-demo motion) targeting cultivators and distributors, including multi-state operators such as Curaleaf, Verano Holdings, and Holistic Industries, alongside a self-serve sign-up path for dispensaries. The company has raised at least $47.5 million across disclosed funding rounds through 2022, merged with retail POS provider Sweed in March 2023, and was acquired by LeafLink in 2024, under whose ownership Leaf Trade continues to operate as a subsidiary brand serving wholesale cannabis operators.

The underlying technology stack centers on a web-based marketplace application (app.leaf.trade) with deep integration into state-mandated seed-to-sale tracking systems (Metrc, BioTrack) and flexible APIs that allow multi-state operators to sync inventory and operational data into Leaf Trade as they enter new markets. Over 97,000 products have been imported through these integrations, making the integration layer — rather than any single feature — the primary technical differentiator. Compliance posture (SOC 1 and SOC 2 Type II, certified by A-LIGN) is a deliberate enterprise-readiness signal in a regulated vertical where audit-grade controls are table stakes for MSO procurement.

Name

Leaf Trade

Legal name

Leaf Trade

Website

https://leaftrade.com

Company type

Private

Founded year

2017

Operating status

Acquired

Headcount range

51–100 employees

Short description

Leaf Trade is a U.S. B2B wholesale cannabis marketplace connecting licensed cultivators and distributors with dispensaries for ordering, inventory, payments, and compliance-integrated operations across 25+ markets.

Ownership category

akta.pro rank

Product category

Cannabis B2B Wholesale Marketplace

NAICS

Drugs and Druggists' Sundries Merchant Wholesalers (424210)

SIC

Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122)

akta.pro primary industry

Third-Party White-Label Ordering & Delivery Platforms (SaaS + Logistics) (CRANAGAF)

akta.pro secondary industry

Cannabis Wholesale Distribution (Flower, Extracts, Edibles) (CRAOAIAF)

Keywords

• Cannabis wholesale marketplace
• Cannabis B2B platform
• Cannabis payment processing
• Cannabis compliance integration
• Cannabis advertising platform

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Marketplace / Transaction Fees: Leaf Trade operates as a B2B marketplace for wholesale cannabis, charging transaction fees or commissions on orders processed through the platform. The company processes over $500M in annual cannabis orders and has facilitated over $1 billion in annual transactions.
2. Direct Pay Payment Processing: Direct Pay enables cannabis wholesalers to accept digital ACH payments from dispensaries, likely generating revenue through transaction processing or service fees.
3. Leaf Trade Advertising: Advertising solutions offered to cannabis brands for targeted campaigns within the platform, generating additional revenue through ad spend.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Leaf Trade operates a B2B wholesale cannabis marketplace that connects cannabis cultivators, distributors, and brands with licensed dispensary buyers for ordering, inventory management, fulfillment, and payment processing. The platform bundles marketplace functionality with Direct Pay digital ACH payments, Metrc and BioTrack seed-to-sale compliance integrations, ERP/accounting connectors, and a data-driven advertising product for cannabis brands. It is positioned as an SOC 1 and SOC 2 Type II compliant enterprise solution available across 25+ U.S. markets.

Product overview

Leaf Trade operates as an enterprise cannabis wholesale platform consisting of a core marketplace product complemented by modular add-on services. The primary offering is the Leaf Trade Wholesale Marketplace, a B2B platform connecting cannabis brands with distributors and dispensaries for ordering, inventory management, fulfillment, and payments. Supporting this core platform are Direct Pay (enabling fee-free ACH digital transactions), Leaf Trade Advertising (data-driven brand visibility campaigns), and Leaf Trade Integrations (connecting to Metrc and BioTrack seed-to-sale systems, ERPs, and distribution platforms). The platform processes over $0.5B in annual cannabis orders and is available in 25+ markets.

Differentiator

Problem solved

Functional benefit

Brands

• Direct Pay: Digital payment solution enabling cannabis wholesalers to accept fee-free ACH transactions from buyers, providing transparent tracking of payments.
• Leaf Trade Advertising

Quantifiable outcome

• Over $1 billion in annual transactions facilitated on the platform
• +4 more outcomes

Named customers6 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature5 records

Partnerships

Four partnerships are on record, tiered core and flagship.

• SweedcoreStrategic or Co-development Partner · 28 March 2023Leaf Trade announced its merger with Sweed, a provider of retail point-of-sale and operations platforms for cannabis businesses, on March 28, 2023. The combined platform aimed to enhance wholesale and retail cannabis operations through integrated data-driven solutions for multi-state operators and dispensaries. The merger leveraged Sweed's all-in-one retail technology to streamline operations and improve customer engagement.
• MetrccoreTechnology or IntegrationLeaf Trade integrates directly with Metrc, one of the cannabis industry's leading seed-to-sale compliance platforms. The integration connects crucial business systems including ERPs, finance and accounting, and distribution platforms, with over 97K products imported through integrations.
• BioTrackcoreTechnology or IntegrationLeaf Trade integrates directly with BioTrack, a leading seed-to-sale traceability platform for the cannabis industry. The integration enables seamless data flow between compliance systems and the Leaf Trade marketplace and operational tools.
• LeafLinkflagshipStrategic or Co-development PartnerLeafLink acquired Leaf Trade, bringing Leaf Trade's wholesale marketplace capabilities into the LeafLink ecosystem. The acquisition is described as expanding LeafLink's offerings to wholesale cannabis operators. The combined entity aims to provide comprehensive tools for operators to grow and succeed in the regulated cannabis industry.

Scale indicators10 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• LeafLink: LeafLink is the leading B2B cannabis wholesale marketplace and the parent/acquirer of Leaf Trade. Pre-acquisition the two were direct competitors offering wholesale cannabis ordering, payments, and integrations; today they are part of the same combined platform.
• Distru: Distru provides B2B cannabis distribution, inventory, and ERP software that overlaps with Leaf Trade's wholesale marketplace and integrations. It serves a similar operator base (cultivators, distributors, dispensaries) with wholesale ordering and compliance features.
• Sweed: Sweed provides retail POS and operations software for cannabis dispensaries and merged with Leaf Trade in 2023. Post-merger it is now part of the LeafLink/Leaf Trade combined commerce platform serving multi-state operators.

Broad incumbents

• BioTrack: BioTrack is a leading cannabis seed-to-sale traceability platform with adjacent commerce and wholesale features. It is both a Leaf Trade integration partner and a partial competitor in B2B cannabis operations tooling.
• Metrc: Metrc is the dominant cannabis regulatory compliance platform used by most U.S. states. While primarily a compliance backbone, its growing operational tooling overlaps with parts of the Leaf Trade platform for licensed operators.
• Dutchie: Dutchie is a leading cannabis e-commerce and POS platform primarily serving dispensaries (B2C). It is comparable as a broader cannabis commerce stack that overlaps with the dispensary-facing side of Leaf Trade's marketplace.
• iHeartJane: iHeartJane operates an online ordering and delivery platform for cannabis dispensaries. It is comparable to Leaf Trade as another commerce-layer vendor in the cannabis value chain, though focused on B2C dispensary ordering rather than B2B wholesale.

Emerging players

• Canopy (Canopy Cannabis Commerce): Canopy is an emerging B2B cannabis marketplace and commerce platform for retailers and brands. It targets a similar wholesale buyer/seller workflow as Leaf Trade with marketplace, payments, and analytics features.
• Meadow: Meadow offers cannabis dispensary POS, e-commerce, and delivery tools. Comparable to Leaf Trade as an adjacent cannabis commerce platform, primarily serving dispensaries rather than the wholesale layer.
• Greenline (by Akerna/Cannabis AI): Greenline/Cannabis AI provides wholesale cannabis marketplace and compliance tooling for retailers and brands, comparable to Leaf Trade's B2B marketplace functionality at a smaller scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/leaf_trade

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds4 records

Investors8 records

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

M&A1 record

Investments

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

Frequently asked questions about Leaf Trade