US cannabis wholesale platform LeafLink has announced the acquisition of Leaf Trade, a key competitor specializing in serving multi-state operators (MSOs) and enterprise cannabis companies.
While the financial terms of the deal were not disclosed, this strategic acquisition positions LeafLink to significantly expand its market presence and service offerings, with the company projecting an $9 billion in annual wholesale gross merchandise sales.
The acquisition will allow LeafLink to cater to a broader spectrum of cannabis businesses, from small brands and retailers to MSOs, by integrating Leaf Trade’s enterprise-focused customer base into its ecosystem. Both platforms will continue operating as-is while LeafLink rolls out a comprehensive integration plan.
“Leaf Trade has been the clear industry leader serving the MSO and enterprise segment, and we are thrilled to welcome the Leaf Trade team to LeafLink,” said Artie Minson, President and CEO of LeafLink.
The acquisition is the latest in a series of moves by LeafLink to broaden its footprint in the cannabis space. This year, the company introduced several new services aimed at addressing critical challenges faced by the industry, including:
- Payment on Sell-Through: A fintech tool launched in June to tackle the systemic issue of unpaid bills, providing guarantees on purchases made through the LeafLink platform.
- LeafLink Plus: A subscription-based service offering detailed data insights to help cannabis businesses optimize inventory and operations.
- Enhanced cannabis banking services following the acquisition of Dama Financial, which connects businesses with compliant financial solutions.
- These services complement LeafLink’s existing suite of marketplace tools, SaaS integrations, logistics software, and B2B advertising, further solidifying its role as the go-to operating system for the regulated cannabis industry.
To support its aggressive expansion strategy, LeafLink earlier this year raised $100 million in a Series D funding round, which was later increased to $125 million. Prominent investors in the round included CPMG, Nosara, L2 Ventures, Thrive Capital, and Tiger Global.
