Bespoke Financial Raises $125 Million to Expand Lending Capacity, Fund the Growth of the Cannabis Industry
December 1st, 2021
Additional capital will fuel rapid growth as demand for debt financing accelerates
LOS ANGELES, Dec. 01, 2021 (GLOBE NEWSWIRE) — Bespoke Financial, the nation’s first cannabis-focused fintech lending platform, announced today the closing of a $125 million credit facility.
This infusion of capital from institutional investment funds is a strong show of confidence in cannabis debt financing as well as in Bespoke Financial’s approach to working with these businesses. The company has effectively mainstreamed cannabis lending by providing a comprehensive technology platform and data-driven application process enabling licensed cannabis operators to access financing quickly and seamlessly, as evidenced by the company’s automated pre-qualification for dispensary financing.
“This added lending capacity demonstrates that more institutional investment firms are recognizing the cannabis industry’s potential. Institutional investors are chasing high yields and seeking to minimize volatility, especially through investments that are not subject to future COVID-related market disruptions. Cannabis debt financing checks all of these boxes,” said George Mancheril, chief executive officer of Bespoke Financial. “Bespoke Financial is serving as a conduit for larger pools of capital to enter the space in a structured and scalable manner ahead of federal regulatory change, if and when that comes.”
Bespoke has been at the forefront of the industry trend toward debt financing, working with both large and small companies of all license types, including brands like Jeeter, Buddies, Claybourne Co., and Friendly Farms. Since the company’s launch more than three years ago, Bespoke has provided funding for a growing number of businesses spanning the entire cannabis supply chain. The company now works across the country in 12 regulated markets from California to Maine, financing lines of credit in amounts as large as $15 million.
“The rise of debt financing is an encouraging and important moment in the history of the industry and will enable smart operators to scale and remain nimble without sacrificing growth opportunities,” Mancheril said. “Debt capital is a tool that has been a mainstay of how traditional businesses operate and is now finally widely available to cannabis businesses of all sizes. We feel this is really exciting news, not just for Bespoke and our team, but for the industry as a whole.”
Retailers interested in pursuing dispensary financing can pre-qualify for a Bespoke Financial revolving line of credit by completing this simple online application.
About Bespoke Financial
Founded in 2018, Bespoke Financial is the nation’s first licensed fintech lender focused on the cannabis industry and is focused on bridging the divide between institutional investors and cannabis. Led by a premier team of experts in fintech and cannabis industries, Bespoke Financial provides clients access to working capital by offering short term lending options to fuel business growth in the legal cannabis industry, reducing cash flow cycles and providing cannabis companies greater financial flexibility. The company is backed by respected venture capital firms such as Casa Verde Capital, Sweat Equity Ventures, Greenhouse Capital Partners, Outbound Ventures, Ceres Group Holdings and Vista Investment Group. For more information visit www.bespokefinancial.com or connect with us on LinkedIn.
Contact: Jim Dissett
The 9th Block
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
Follow Us on Social Media
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.