The cannabis industry is maturing. It has entered the mainstream as an effective way to manage medical issues such as anxiety, help for the sleepless, focus, and this is just to name a few of its touted benefits. Overall, two-thirds of Americans support legalization. For the countless business-to-consumer, plant-facing companies there are even more ways to make the industry sustainable, with long-term growth possible.
Due to the exponential growth, cannabis businesses are looking to capitalize on the industry’s burgeoning demand. Currently, it requires working capital solutions for marijuana-focused businesses to come to fruition, however, there is stigma around this industry. Due to the stigma, it becomes tough for financial institutions to provide working capital for cannabis businesses.
To help accelerate the growth of the cannabis industry, KeefX was founded and is managed by a group of forward-thinking people who wanted to have an impact on the Cannabis industry. Their focus is on providing the grower with the right tools to ensure he/she is paid on time. KeefX.co was founded by Isaac “Yitz” Klein, former managing member and co-founder of Family Office Gideon Asset Management in NYC. Developed at the height of the coronavirus pandemic in 2020, Yitz set out with the goal of distinctly impacting the growth of the cannabis industry post pandemic and beyond. KeefX is unique in the sense that they work directly with Growers, and payments are processed to the grower as low as $50,000 per transaction. The team at KeefX has many years of experience with growth capital, so customers can have assurance that they are in good hands. Additionally, KeefX.co has deep relationships with banking and insurance partners who support their fintech through their rails for ACH tech and up-coming soft banking platforms.
“As we continue to grow and expand our market share, larger banking institutions are inquiring about putting their capital to work alongside ours, this will give them access to the cannabis market without having to set up their own in-house cannabis divisions; something they want to stay away from,” Yitz elaborated. Thanks to its quick ability to provide capital to the cannabis industry, KeefX.co has already made a name for itself as the go-to fintech capital source for marijuana companies, with only less than a year on the market. Right now, the total amount originated each month is around 1M. By pairing with KeefX.co, clients know they will have access to capital, growers are confident transacting knowing they will get paid, and they can all focus on scaling their business.