Bespoke Financial provides technology-driven short-term lending and revolving lines of credit to licensed cannabis operators, using a data-driven application process and automated pre-qualification for dispensary financing. The company offers working capital to reduce cash flow cycles and enable business growth across the legal cannabis supply chain. Since its 2018 launch, Bespoke has funded businesses in 12 regulated markets and has financed lines of credit as large as $15 million. Bespoke’s platform is designed to bridge institutional investors and cannabis operators by mainstreaming cannabis debt financing. The company intends to expand lending capacity and serve as a conduit for larger pools of institutional capital ahead of any federal regulatory change. Bespoke is backed by venture firms including Casa Verde Capital, Sweat Equity Ventures, Greenhouse Capital Partners, Outbound Ventures, Ceres Group Holdings and Vista Investment Group. Bespoke Financial is a direct lender that provides short-term loans to cannabis operators, allowing borrowers to build credit with Bespoke and access better terms on subsequent loans and products. The company says its loan origination volume grew 25% year-over-year and has deployed $120 million in gross merchandise volume to over 2,000 cannabis license holders with zero defaults to date. Bespoke positions itself as a modern financing partner for the cannabis industry rather than just a lender. With the new capital, the company intends to launch new financing structures and expand financing options across multiple distribution channels. Bespoke has raised $28 million to date, was founded in 2019, and has 12 employees. Bespoke Financial provides lending and working-capital products tailored to cannabis businesses that lack access to traditional bank loans. The company’s initial product is a factoring instrument that advances money against signed contracts in exchange for a portion of future payments. Founders George Mancheril (ex-Goldman Sachs and Guggenheim) and entrepreneurs Pablo Borquez‑Schwarzbeck, Benjamin Dusastre, and Jeffrey Ghitman adapted ProducePay’s underwriting model to the cannabis supply chain. ProducePay previously financed roughly $2 billion in perishable commodities across 13 countries and is backed by around $200 million in venture capital and debt financing. Bespoke says it will improve cash flow cycles across the supply chain and provide scalable working capital to fuel client growth as the US legal cannabis market is forecast to exceed $23B by 2022. The company has raised $7 million in financing led by Casa Verde Capital.

Total raised

$140M

Funding rounds

3

Latest round

Debt Financing

Latest activity

Dec 2021