Cannabis financial technology firm Abaca brings its full suite of financial services to the cannabis dispensaries, cultivators and product processors in Ohio, Montana and North Dakota. The company’s platform includes banking, merchant services and lending.
“Our goal is to bring safe and compliant banking services to the cannabis industry,” says Abaca CEO Dan Roda. “The more states we can service, the more the industry benefits from safe, commercial banking practices that propel the cannabis industry into the future of financial services.”
Abaca was co-founded in 2017 by Roda and partners Chief Strategy Officer Brian Bauer, Chief Technology Officer Greg Ellis and Chief Finance Officer John Foley. Abaca first launched in Arkansas, enabling end-to-end commercial banking services for the majority of the legal cannabis industry there. In 2018, Abaca expanded services to Oklahoma and, in 2019, added Missouri and Illinois. Additionally, the company’s merchant services and lending products are available to cannabis and Hemp/CBD businesses nationwide.