SOUTH SAN FRANCISCO, Calif., April 21, 2021 /PRNewswire/ — Dama Financial the premier provider of access to banking and payment solutions through its FDIC-insured banking partners for the rapidly growing legal cannabis industry, today announced the completion of its $12.6 million Series B funding round, bringing Dama’s total funding to approximately $24 million to date.
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.
“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,” said Dan Englander, of Ursula Investors.
According to Arcview Research, legal cannabis sales in 2019 grew by 46% to $14.8 billion, which represents the highest annual rate of growth to date.
Based in South San Francisco, California, Dama is the cannabis industry’s leading provider of access to banking and financial services, powering safe and secure depository solutions for top licensed cannabis operators throughout the United States as well as electronic consumer payment solutions.