Dama Financial (“Dama”), the largest provider of access to financial services for the cannabis industry, is making its business solutions available to any legally operating company operating in a state that has legalized cannabis for adult and/or medical use.
Cannabis is currently legal for medical use in 36 states and for adult use in 16 states and Washington, D.C.
“The cannabis industry is experiencing exponential growth across the country, so to say there’s demand for our business services is an understatement. We’re thrilled to offer access to legal, secure, compliant and transparent banking and payment solutions to so many hard-working business owners who desperately need them,” said Anh Hatzopoulos, Dama co-founder and chief executive officer.
Dama’s offerings include access to FDIC-insured checking and savings accounts, credit, cash management, and merchant services.
Based in South San Francisco, Calif, 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. The company was founded in 2017 by a team of world class fintech and payments executives to provide high-risk industries with critical access to fundamental financial solutions. Dama has leveraged its experience in other unbanked categories to develop solutions, driven by its proprietary technology platform, capable of navigating a complex web of regulatory and compliance requirements. The company’s expansive product set, including Premier Business Banking, Paytender and CashToTax, fueled 350% top-line growth in 2020.