Wholesale management platform LeafLink announced a company milestone this week — its LeafLink Payments system having processed over $1 billion in cannabis-industry transactions since the company’s inception in 2015.
LeafLink’s B2B platform connects over 1,200 brands and 3,500 retailers through its online wholesale marketplace. According to the company, in total more than 12,000 companies trade there. The marketplace processed approximately $5 billion in orders in 2021; which accounts for an estimated 42% of all wholesale cannabis commerce in the U.S., according to LeafLink. The New York-headquartered company offers marketplace-integrated services including ordering, shipping and payment operations designed to offer liquidity to the cannabis market..
The $1 billion in payments transacted this week involved 1,700 active operators using LeafLink Payments. The company says the system is focused providing speed and security across the centralized sales engine it created, and offers Flexible and Direct Payment options allowing retailers and brands to choose when and how they are paid.
“As cannabis rapidly evolves, it is essential that our platform keeps up with the changing needs of our customers as we provide critical liquidity to the industry,” says Ryan G. Smith, CEO and Co-Founder of LeafLink. “We are incredibly proud to reach the $1 billion milestone in payments transactions and look forward to further expanding the LeafLink community in the coming years.”