Cannabis growers no longer give up their equity for working capital solutions, thanks to this fintech startup

Photo courtesy of Thomas Herd

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In the United States, the marijuana business is booming more than ever. With the country so close to national legalization, infrastructure has grown rapidly in the 34 states where cannabis has already been decriminalized, with legal marijuana sales expected to exceed $ 22 billion by next year and hit 73. , $ 6 billion by 2027.

While many people want to get involved in a lucrative business, finding working capital for cannabis can be incredibly difficult. Many financial institutions still carry outdated misconceptions about marijuana, even if a business crosses this hurdle, the industry’s unique need for capital often prevents banks from providing funds quickly enough. Now, fintech company KeefX.co has become the go-to solution for businesses in need of capital with the ability to deliver funds in days, much faster than any traditional banking institution.

Nonetheless, KeefX.co maintains working relationships with insurance and banking partners to ensure a completely secure process for its clients and protects all of their assets with the company’s unique crop, equipment and inventory insurance solutions. business.

“Our partners include banking institutions that support our fintech through their rails for our upcoming ACH technology and flexible banking platform,” said Isaac “Yitz” Klein, director and founder of KeefX, former managing member and co-founder of Family Office Gideon Asset. Management in New York. “It took us a while to gain the trust of these institutions, but once our partners reviewed the compliance features of the KYC integrated platform and financial process, as well as the financial capabilities of our clients, they were on board. “

Yitz also pointed out that the partnership with KeefX.co allows banks to get their hands on the cannabis business by putting their capital alongside KeefX.co without having to open their own internal divisions, which financial institutions have always avoided. . After seeing all that KeefX.co has accomplished, many great institutions are now looking to work with the booming business.

KeefX.co benefits from the unique aspect of working directly with producers, ensuring that they are paid consistently and in a timely manner, while immediately delivering the product to the company’s customers. Thanks to its exclusive compensation program, Growers and KeefX.co clients benefit from the deal, with transactions starting at $ 50,000.

Led by the KeefX.co team’s years of experience in growth capital, the company has already grown rapidly in its first year of operation to generate nearly $ 1 million in funding through month. As the cannabis industry continues to explode to new heights, KeefX.co is expected to remain the go-to source of working capital across the industry.

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About Donnie R. Losey

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