This L.A. Startup Could Become the Wells Fargo of Weed
When KIND Financial began in 2014, it was supposed to be the Wells Fargo for weed growers and dispensaries.
“I was initially going to be KIND Banking," CEO David Dinenberg says. "I was going to be the marijuana bank.”
He says the idea struck when he was watching a 60 Minutessegment on marijuana businesses, which mentioned that the industry had no banking, credit cards or financial services. “If you had sneezed or coughed during the 15 seconds that this information was presented, you’d have missed it,” the impeccably dressed Dinenberg says, sitting in an airy conference room of his Hollywood office. Soon thereafter, he began learning about the cannabis industry. “The research evolved into a business plan,” he says. “I gravitate toward a problem and not the story.”
As the medical marijuana industry expanded, new businesses needed financial services to grow their companies. Dispensaries also had to operate on a strictly...
This marijuana news is brought to you by 420 Intel. For the latest breaking cannabis industry news, subscribe to the 420 Intel newsletter. If you'd like to promote your product or service in this area after every article, contact us.
Follow us on Instagram
Connect with us on Linkedin