Leaf Trade, a Chicago, IL-based B2B cannabis technology platform provider, closed its $12.5 million Series B preferred round.
The round was led by Artemis Growth Partners, bringing funding raised to date to a total of $22.5 million.
The funding will accelerate Western market expansion of the online wholesale cannabis marketplace and digital payment infrastructure.
Led by James Yi, Founder and Chief Executive Officer, and Michael Piermont, President and Chief Revenue Officer, Leaf Trade is a technology company whose platform facilitates ordering and fulfillment for sellers and buyers of wholesale cannabis products. It powers ordering and fulfillment for cultivators, retailers, distributors, processors, and dispensaries in over 24 states, and facilitates nearly $2B in annualized net sales.
Leaf Trade also announces the naming of Brian Ward as the company’s Chief Financial Officer. He most recently served as Verano’s CFO, leading them through their IPO and several strategic acquisitions into one of the largest public cannabis companies in the US. His experience includes leading accounting and finance, M&A, analytics, IT, procurement, tax, treasury, and investor relations teams. In addition, his background includes working at companies such as 3M and KPMG.