Institutional Investor Backs This Cannabis Fintech Co With $60M Credit Line For Market Expansion

By Jelena Martinovic, Featured Writer

FundCanna landed a new senior credit facility of up to $60 million from a global institutional investment firm managing about $40 billion in assets.

The agreement provides $35 million immediately, with additional funding tied to the company’s future growth, FundCanna said on Tuesday.

FundCanna is simultaneously reorganizing its capital base, increasing its total accessible capital to approximately $75 million. This could support more than $500 million in cumulative funding for the cannabis industry over the next several years, the company said in a press release.

The transaction represents yet another sign of growing institutional interest in cannabis lending, a sector where many traditional lenders remain hesitant.

“This is institutional capital entering a part of the market it has historically avoided,” said Adam Stettner, founder and CEO of FundCanna, which has been primarily supporting small and mid-sized cannabis businesses for years. “That includes both established operators and the broader supply chain that drives the cannabis economy.”

Over the years, FundCanna has funded more than $250 million across over 5,000 transactions and is nearing a $100 million annualized revenue pace.

“We’ve built our platform to serve the full spectrum of the market, where access to reliable funding has been inconsistent,” Stettner said.

According to Joel Magerman, managing partner at Bryant Park Capital, the investment bank that represented FundCanna in the transaction, investor interest was largely driven by FundCanna’s proven transaction track record, disciplined approach to risk management, and ability to deploy capital efficiently.

“Very few companies in the cannabis finance sector have built this level of operational infrastructure and underwriting depth,” Magerman said. “FundCanna has established itself as a category leader in a market where institutional capital has historically been cautious to participate.”

The company also emphasized its ReadyPaid™ Buy Now, Pay Later platform, which addresses nearly $4 billion in overdue cannabis supply-chain receivables. FundCanna stated that the platform delivers rapid underwriting decisions and has already processed millions of dollars in transactions without any reported delinquencies.