Dama Financial, the Leading Provider of Access to Banking and Financial Solutions for Cannabis Businesses, Announces the Completion of $12.6 Million Growth Equity Raise | Cannabis Law Report

Dama will leverage the new spherical of funding to speed up its already spectacular progress, proceed to handle the lack of monetary service merchandise being supplied to the hashish business, recruit prime expertise, and scale the enterprise with the backing and help of its buyers.

South San Francisco, CA, April 20, 2021 /PRNewswire/ — Dama Financial (“Dama”) the premier supplier of entry to banking and fee options via its FDIC-insured banking companions for the quickly rising authorized hashish business, at present introduced the completion of its $12.6 million Series B funding spherical, bringing Dama’s complete funding to roughly $24 million to date. The spherical was led by a bunch of strategic new buyers. Currently serving over 7% of the authorized hashish companies in California, operational in 12 states and with over 50,000 customers with digital wallets in the United States, Dama has processed over $2 billion in transaction worth since inception.

“In one of the fastest-growing industries in the world, Dama is bringing desperately needed financial services to businesses and consumers alike that are safe, secure, compliant and efficient,” stated Anh Hatzopoulos, CEO and Co-founder at Dama. “We have spent four years building a platform to enable safe, compliant financial services for cannabis businesses and now is the time to take Dama to the next level.”

“Dama has brought together the right team and technology that will position them as a clear payment solutions leader in the cannabis industry for years to come,” stated Dan Englander, of Ursula Investors. “Dama continues to innovate solutions for the serious payments problems faced by the industry and we are excited to see that accelerate. ”

Since November 2020, six new states have handed legalization measures for hashish and a record-high percentage of Americans now help legalization. The hashish business is one of the fastest-growing in the world with the international hashish market anticipated to hit $47 billion and U.S. gross sales of authorized hashish anticipated to quintuple by 2025. According to Arcview Research, authorized hashish gross sales in 2019 grew by 46% to $14.eight billion, which represents the highest annual price of progress to date. Dama’s fee options remedy difficult banking issues for hashish dispensaries and facilitate seamless shopper transaction at cellular factors of sale.

Advisors

Waller Helms Advisors acted as unique monetary advisor to Dama Financial on this spherical of funding.

To be taught extra, go to: https://www.damafinancial.com/index.html. 

About Dama

Based in South San Francisco, California, Dama is the hashish business’s main supplier of entry to banking and monetary providers, powering secure and safe depository options for prime licensed hashish operators all through the United States in addition to digital shopper fee options. The Company was based in 2017 by a workforce of world class FinTech and Payments executives to present excessive danger industries with essential entry to elementary monetary options.  Dama has leveraged its expertise in different unbanked classes to develop options, pushed by its proprietary expertise platform, succesful of navigating a fancy internet of regulatory and compliance necessities.  The Company’s expansive product set, together with Premier Business Banking, Paytender and MoneyToTax, fueled 350% prime line progress in 2020.

To be taught extra, go to https://www.damafinancial.com/index.html.

SOURCE: Dama Financial

Cannabis Law Report Has Been Publishing Legal, Professional & Regulated
Cannabis News Daily Since 2016 – All For Free

We need to stick with it offering the vital hashish sector
information for free for all our readers.

Costs are rising to produce Cannabis Law Report and we’d like to ask you,
our readers, for a small donation.

New: Free USA Cannabis Case Law Search – New Cases Daily

Search Cannabis Law Report

Karma Koala Podcast


Top Marijuana Blog

{“id”:null,”mode”:”form”,”open_style”:”in_place”,”currency_code”:”USD”,”currency_symbol”:”$”,”currency_type”:”decimal”,”blank_flag_url”:”https://cannabislaw.report/wp-content/plugins/tip-jar-wp//assets/images/flags/blank.gif”,”flag_sprite_url”:”https://cannabislaw.report/wp-content/plugins/tip-jar-wp//assets/images/flags/flags.png”,”default_amount”:200,”top_media_type”:”none”,”featured_image_url”:false,”featured_embed”:””,”header_media”:null,”file_download_attachment_data”:null,”recurring_options_enabled”:true,”recurring_options”:{“never”:{“selected”:true,”after_output”:”One time only”},”weekly”:{“selected”:false,”after_output”:”Every week”},”monthly”:{“selected”:false,”after_output”:”Every month”},”yearly”:{“selected”:false,”after_output”:”Every year”}},”strings”:{“current_user_email”:””,”current_user_name”:””,”link_text”:”Leave a tip”,”complete_payment_button_error_text”:”Check info and try again”,”payment_verb”:”Pay”,”payment_request_label”:”Cannabis Law Report”,”form_has_an_error”:”Please check and fix the errors above”,”general_server_error”:”Something isn’t working right at the moment. Please try again.”,”form_title”:”Please Donate Now”,”form_subtitle”:””,”currency_search_text”:”Country or Currency here”,”other_payment_option”:”Other payment option”,”manage_payments_button_text”:”Manage your payments”,”thank_you_message”:”Thank you for being an awesome Cannabis Law Report supporter!”,”payment_confirmation_title”:”Cannabis Law Report”,”receipt_title”:”Your Receipt”,”print_receipt”:”Print Receipt”,”email_receipt”:”Email Receipt”,”email_receipt_sending”:”Sending receipt…”,”email_receipt_success”:”Email receipt successfully sent”,”email_receipt_failed”:”Email receipt failed to send. Please try again.”,”receipt_payee”:”Paid to”,”receipt_statement_descriptor”:”This will show up on your statement as”,”receipt_date”:”Date”,”receipt_transaction_id”:”Transaction ID”,”receipt_transaction_amount”:”Amount”,”refund_payer”:”Refund from”,”login”:”Log in to manage your payments”,”manage_payments”:”Manage Payments”,”transactions_title”:”Your Transactions”,”transaction_title”:”Transaction Receipt”,”transaction_period”:”Plan Period”,”arrangements_title”:”Your Plans”,”arrangement_title”:”Manage Plan”,”arrangement_details”:”Plan Details”,”arrangement_id_title”:”Plan ID”,”arrangement_payment_method_title”:”Payment Method”,”arrangement_amount_title”:”Plan Amount”,”arrangement_renewal_title”:”Next renewal date”,”arrangement_action_cancel”:”Cancel Plan”,”arrangement_action_cant_cancel”:”Cancelling is currently not available.”,”arrangement_action_cancel_double”:”Are you sure you’d like to cancel?”,”arrangement_cancelling”:”Cancelling Plan…”,”arrangement_cancelled”:”Plan Cancelled”,”arrangement_failed_to_cancel”:”Failed to cancel plan”,”back_to_plans”:”u2190 Back to Plans”,”update_payment_method_verb”:”Update”,”sca_auth_description”:”Your have a pending renewal payment which requires authorization.”,”sca_auth_verb”:”Authorize renewal payment”,”sca_authing_verb”:”Authorizing payment”,”sca_authed_verb”:”Payment successfully authorized!”,”sca_auth_failed”:”Unable to authorize! Please try again.”,”login_button_text”:”Log in”,”login_form_has_an_error”:”Please check and fix the errors above”,”uppercase_search”:”Search”,”lowercase_search”:”search”,”uppercase_page”:”Page”,”lowercase_page”:”page”,”uppercase_items”:”Items”,”lowercase_items”:”items”,”uppercase_per”:”Per”,”lowercase_per”:”per”,”uppercase_of”:”Of”,”lowercase_of”:”of”,”back”:”Back to plans”,”zip_code_placeholder”:”Zip/Postal Code”,”download_file_button_text”:”Download File”,”input_field_instructions”:{“tip_amount”:{“placeholder_text”:”How much would you like to tip – $2 would be great, $5 even better and if you would like to donate $US20 or more we will add you to our donation wall of fame”,”initial”:{“instruction_type”:”normal”,”instruction_message”:”How much would you like to tip – $2 would be great, $5 even better and if you would like to donate $US20 or more we will add you to our donation wall of fame”},”empty”:{“instruction_type”:”error”,”instruction_message”:”How much would you like to tip – $2 would be great, $5 even better and if you would like to donate $US20 or more we will add you to our donation wall of fame”},”invalid_curency”:{“instruction_type”:”error”,”instruction_message”:”How much would you like to tip – $2 would be great, $5 even better and if you would like to donate $US20 or more we will add you to our donation wall of fame”}},”recurring”:{“placeholder_text”:”Recurring”,”initial”:{“instruction_type”:”normal”,”instruction_message”:”How often would you like to give this?”},”success”:{“instruction_type”:”success”,”instruction_message”:”How often would you like to give this?”},”empty”:{“instruction_type”:”error”,”instruction_message”:”How often would you like to give this?”}},”name”:{“placeholder_text”:”Name on Credit Card”,”initial”:{“instruction_type”:”normal”,”instruction_message”:”Enter the name on your card.”},”success”:{“instruction_type”:”success”,”instruction_message”:”Enter the name on your card.”},”empty”:{“instruction_type”:”error”,”instruction_message”:”Please enter the name on your card.”}},”privacy_policy”:{“terms_title”:”Terms and conditions”,”terms_body”:null,”terms_show_text”:”View Terms”,”terms_hide_text”:”Hide Terms”,”initial”:{“instruction_type”:”normal”,”instruction_message”:”I agree to the terms.”},”unchecked”:{“instruction_type”:”error”,”instruction_message”:”Please agree to the terms.”},”checked”:{“instruction_type”:”success”,”instruction_message”:”I agree to the terms.”}},”email”:{“placeholder_text”:”Your email address”,”initial”:{“instruction_type”:”normal”,”instruction_message”:”Enter your email address”},”success”:{“instruction_type”:”success”,”instruction_message”:”Enter your email address”},”blank”:{“instruction_type”:”error”,”instruction_message”:”Enter your email address”},”not_an_email_address”:{“instruction_type”:”error”,”instruction_message”:”Make sure you have entered a valid email address”}},”note_with_tip”:{“placeholder_text”:”Your note here…”,”initial”:{“instruction_type”:”normal”,”instruction_message”:”Attach a note to your tip (optional)”},”empty”:{“instruction_type”:”normal”,”instruction_message”:”Attach a note to your tip (optional)”},”not_empty_initial”:{“instruction_type”:”normal”,”instruction_message”:”Attach a note to your tip (optional)”},”saving”:{“instruction_type”:”normal”,”instruction_message”:”Saving note…”},”success”:{“instruction_type”:”success”,”instruction_message”:”Note successfully saved!”},”error”:{“instruction_type”:”error”,”instruction_message”:”Unable to save note note at this time. Please try again.”}},”email_for_login_code”:{“placeholder_text”:”Your email address”,”initial”:{“instruction_type”:”normal”,”instruction_message”:”Enter your email to log in.”},”success”:{“instruction_type”:”success”,”instruction_message”:”Enter your email to log in.”},”blank”:{“instruction_type”:”error”,”instruction_message”:”Enter your email to log in.”},”empty”:{“instruction_type”:”error”,”instruction_message”:”Enter your email to log in.”}},”login_code”:{“initial”:{“instruction_type”:”normal”,”instruction_message”:”Check your email and enter the login code.”},”success”:{“instruction_type”:”success”,”instruction_message”:”Check your email and enter the login code.”},”blank”:{“instruction_type”:”error”,”instruction_message”:”Check your email and enter the login code.”},”empty”:{“instruction_type”:”error”,”instruction_message”:”Check your email and enter the login code.”}},”stripe_all_in_one”:{“initial”:{“instruction_type”:”normal”,”instruction_message”:”Enter your credit card details here.”},”empty”:{“instruction_type”:”error”,”instruction_message”:”Enter your credit card details here.”},”success”:{“instruction_type”:”normal”,”instruction_message”:”Enter your credit card details here.”},”invalid_number”:{“instruction_type”:”error”,”instruction_message”:”The card number is not a valid credit card number.”},”invalid_expiry_month”:{“instruction_type”:”error”,”instruction_message”:”The card’s expiration month is invalid.”},”invalid_expiry_year”:{“instruction_type”:”error”,”instruction_message”:”The card’s expiration year is invalid.”},”invalid_cvc”:{“instruction_type”:”error”,”instruction_message”:”The card’s security code is invalid.”},”incorrect_number”:{“instruction_type”:”error”,”instruction_message”:”The card number is incorrect.”},”incomplete_number”:{“instruction_type”:”error”,”instruction_message”:”The card number is incomplete.”},”incomplete_cvc”:{“instruction_type”:”error”,”instruction_message”:”The card’s security code is incomplete.”},”incomplete_expiry”:{“instruction_type”:”error”,”instruction_message”:”The card’s expiration date is incomplete.”},”incomplete_zip”:{“instruction_type”:”error”,”instruction_message”:”The card’s zip code is incomplete.”},”expired_card”:{“instruction_type”:”error”,”instruction_message”:”The card has expired.”},”incorrect_cvc”:{“instruction_type”:”error”,”instruction_message”:”The card’s security code is incorrect.”},”incorrect_zip”:{“instruction_type”:”error”,”instruction_message”:”The card’s zip code failed validation.”},”invalid_expiry_year_past”:{“instruction_type”:”error”,”instruction_message”:”The card’s expiration year is in the past”},”card_declined”:{“instruction_type”:”error”,”instruction_message”:”The card was declined.”},”missing”:{“instruction_type”:”error”,”instruction_message”:”There is no card on a customer that is being charged.”},”processing_error”:{“instruction_type”:”error”,”instruction_message”:”An error occurred while processing the card.”},”invalid_request_error”:{“instruction_type”:”error”,”instruction_message”:”Unable to process this payment, please try again or use alternative method.”},”invalid_sofort_country”:{“instruction_type”:”error”,”instruction_message”:”The billing country is not accepted by SOFORT. Please try another country.”}}}},”fetched_oembed_html”:false}

{“date_format”:”F j, Y”,”time_format”:”g:i a”,”wordpress_permalink_only”:”https://cannabislaw.report/dama-financial-the-leading-provider-of-access-to-banking-and-financial-solutions-for-cannabis-businesses-announces-the-completion-of-12-6-million-growth-equity-raise/”,”all_default_visual_states”:”inherit”,”modal_visual_state”:false,”user_is_logged_in”:false,”stripe_api_key”:”pk_live_51BCFyOKEX10bi16cQhi1Llb9pq7pEaQgBr3jKm31oXtTVZpWJee7sxrQCRIwZmhs73h9N1V93disaiODR3uLgP4X00ia7NG1oo”,”stripe_account_country_code”:”AU”,”setup_link”:”https://cannabislaw.report/wp-admin/admin.php?page=tip-jar-wp&mpwpadmin1=welcome&mpwpadmin_lightbox=do_wizard_health_check”,”close_button_url”:”https://cannabislaw.report/wp-content/plugins/tip-jar-wp//assets/images/closebtn.png”}

Source link