New Lendica Funding Platform Announces Series of Partnerships to Help Cannabis Businesses Grow | New
BOSTON, April 1, 2021 / PRNewswire / – Lendica, the first automated finance platform serving the cannabis, hemp, CBD and other high-growth industries, has announced a series of partnerships to help these companies gain instant access to capital.
Dispensaries, brands, growers and beyond can seamlessly connect their business data to exclusive Lendica properties. application center and receive an offer within minutes. The more data a company shares, the more capital it will generally be entitled to and often at better rates.
Lendica has partnered with leaders in a wide range of disciplines to help small businesses meet their unique financing challenges.
Treez, an enterprise retail supply chain software company, Abaca, a compliance banking platform, Petalfast, a full spectrum sales accelerator and marketing agency for the cannabis industry, and High purity natural products, an integrated manufacturer and distributor of CBD and hemp products, are the latest partnerships announced by Lendica.
“We created Lendica, a new fintech lending platform, to help companies across high growth industries reach scale faster with short-term capital,” said Jared shulman, CEO of Lendica. “We are excited to partner with these industry leaders and have seen first-hand how their clients can instantly benefit from additional non-dilutive financing. This suite of partnerships covers a wide variety of businesses, whether it’s a Petalfast / High Purity customer needing help speed up inventory turns or an Abaca / Treez user who wants instant access. to working capital. We are proud of the trust of these expert platforms and are excited to extend our partnership model to point of sale, digital marketing and payment processors. “
Lendica offers its clients two working capital products and an inventory finance offering. The data collected by Lendica partners are the exclusive property of the customer. Lendica helps these companies leverage this data to qualify for non-dilutive financing to drive business growth.
“It’s our mission to connect cannabis and hemp businesses with the best financial services, and Lendica’s financing products are a great addition to this ecosystem,” said Dan Roda, Abaca Co-Founder and CEO, adding, “We look forward to providing a seamless experience to our mutual customers by integrating the Lendica Application Center directly into Abaca Online Banking. “
Jerry shu, co-founder of Lendica, adds: “It turns out that data is a great form of collateral. We’ve designed our web application to provide businesses with a simple and secure way to share their data. We are proud to integrate it directly into our partner systems to make this process even easier for customers. ”
“We were looking for a solution to help our customers finance purchase orders and increase the speed of sales,” says Arun Kurichety, COO & General Counsel at Petalfast. “The Lendica team has provided a state-of-the-art platform that integrates seamlessly into our sales process and provides much-needed service to our customers. We’re excited to now offer our growing list of brands instant access to non-dilutive financing.
Lendica invites all businesses to request instant access to working capital and inventory finance by visiting golendica.com/apply.
Lendica enables large institutions and shop initiators to qualify and issue debt capital instantly. Lendica and its partners serve all types of businesses, including high growth / emerging industries and those recovering from the impact of COVID.
Abaca connects legal cannabis and hemp businesses with compliant bank accounts, loans, electronic payments, and other financial services through its fintech-powered cannabis banking platform. Depository banking services are offered in partnership with chartered banks, members of the FDIC. Abaca is currently working with cannabis companies touching plants in Arkansas, Illinois, Michigan, Missouri, Montana, North Dakota, Ohio and Oklahoma. The company’s fintech banking platform also provides loan and payment processing solutions to cannabis and hemp / CBD businesses nationwide.
CEO Lendica Corp.
Lendica is a BostonFinancial technology startup that creates smart underwriting technology to provide small and medium-sized businesses with easy access to working capital.
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