Grow Group seeks investors for medical cannabis trade finance

The company, which says it is the leading medicinal cannabis distributor UK, has been using the new approach to fund purchases of medical cannabis to build its inventory faster as it expands supplies to its core markets of the UK and Ireland, keeps up the pace in fast-growing Germany and eyes moves into new markets elsewhere in Europe and Australia.

Grow, which was founded six years ago by former commodities trader Ben Langley, has so far carried out eight trade finance deals and is looking for new sophisticated private investors.

"The bigger we can get this pool from investors the more money everyone can make," he says.

Having tapped 10 existing investors, some of which are also former commodity traders, the company is starting to widen its net.

"The next step, we are talking to some of the some of the largest commodities people in the world to supersize it."

Frustration at the recent dearth of capital available for cannabis-related deals led Grow Group to this unconventional approach.

But now it's working, Langley is confident that revenues that grew to roughly £7mln in the past year, pre-audit, from £5.1mln the year before, can be more than doubled in the current year.

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Photo by CRYSTALWEED cannabis on Unsplash

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