Thanks to modern legalization efforts, the popularity of cannabis has exploded worldwide in recent years, with the latest statistics estimating over 250 million people throughout the globe regularly use marijuana-related products. Inspired by the rapidly growing market, cannabis businesses have been popping up left and right looking to capitalize on the cannabis industry’s burgeoning demand. Still, acquiring working capital solutions for a marijuana-focused business can come with plenty of roadblocks due to the product’s stigmas among financial institutions, and a cannabis company’s unique capital needs means that a bank will not be able to work quickly enough to provide the solution. Thus, many are left frustrated and growth for their business can become elusive. Enter KeefX.co, a fintech capital platform that has created a simple solution for cannabis businesses to get that much-needed capital within days. 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. The company works directly with Growers, possessing collaborative partnerships with the Cannabis Farm, or “Grow,” and making payments to the grower as low as $50,000 per transaction on behalf of the growers’ customer. Utilizing the team’s years of experience with growth capital, KeefX.co ensures that growers get paid on time, every time, allowing businesses to get their product quickly, while the farmers are immediately compensated by KeefX.co for their efforts. With KeefX.co’s innovative capital solution, every party involved from all sides is a winner. Likewise, KeefX.co has close relationships with banking and insurance partners; “Our partners include banking institutions that support our fintech through their rails for our ACH tech and up-coming soft banking services platform,” says KeefX’s Director and Founder Yitz. “It took a while for us to earn the trust of these institutions, but once our partners reviewed the built-in platform compliance features and KYC financial process, and financial capabilities of our customers, they were on board.”
“As we are growing and expanding 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. Currently originating close to a million dollars in funding a month, KeefX.co’s efficient methods and passion for the industry have created a bevy of happy customers. And bolstered by its one-of-a-kind crop, equipment, and inventory insurance solutions, all the company’s clients can rest peacefully knowing its assets are protected when working with KeefX.co. All in all, partnerships for Growers with KeefX.co helps build the critical working capital infrastructure needed within the marketplace.
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