Finance Firm Seeks To Be “The GE Capital Of [Pot]”

Marijuana sales are spreading across the nation thanks to the growing legalization of the drug. Now a new financial firm, KindBanking, wants to be the financial backbone for the hemp and cannabis industry. “Think of us as the GE Capital of this under-served, but potential multi-billion dollar industry,” said KindBanking’s founder and CEO David Dinenberg…KindBanking, which launched in April, already has nearly a dozen deals, and is talking to start-ups in the U.S. and around the world, including Amsterdam and Panama. The West Hollywood firm provides equity financing in states that allow pot, plus alternative capital like debt, convertible debt and other venture capital or angel investments. In return, KindBanking becomes a partner and owns a portion of the company. “We’re doing deals for dispensaries, growers, equipment companies, edible products makers, even a weed-based online news network” Dinenberg said. [CNBC]

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2 Responses to “Finance Firm Seeks To Be “The GE Capital Of [Pot]””

  1. Guest says:

    I'm sure GE Capital appreciates this reference….

  2. Guestido says:

    Not sure why anyone would aspire to be the GE Capital of anything.