Petalfast, a sales and marketing agency for the cannabis industry, announced the closing of a $2.8 million capital raise led by Merida Capital Holdings.
Petalfast plans to allocate the proceeds to expand its client portfolio and strengthen its role in helping established as well as up-and-coming cannabis brands to achieve rapid and long-term growth.
“We are proud of what we have accomplished at Petalfast in nine months and the role we are playing to shape how cannabis brands go to market and successfully launch,” said Petalfast CEO Jason Vegotsky. “The support of Merida Capital Holdings and our other capital partners has been remarkable, and we look forward to continuing to bring in top talent, expanding on our sales analytics capabilities, and exploring new markets.”
Petalfast launched in September 2020 and its portfolio boasts several diverse cannabis brands that benefit from the branding, sales, marketing, and distribution expertise of the Petalfast team.
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