Raising Cannabis Capital 0091: CannTrade

Licensed cannabis businesses often struggle to find other licensed cannabis business to buy or sell their products too.  Mark Restelli identified this problem and formed CannTrade a cannabis & hemp marketplace, CRM & database for licensed companies.   On the show Mark talks to Dan Humiston about the CannTrade platform including many of it's features.  He also outline their expansion plans and details about their capital raise. 

Produced By MJBulls Media

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Dan Humiston:
Today Show and the following message are brought to you by Trevett Hill. Cannabis investors expect big returns from the companies that they invest in. Unfortunately not all cannabis investments succeed. Trevett Hill's management team works with investors to help turnaround or in some cases purchased their underperforming portfolio companies to learn more. Go to Trevetthill.com.

MARK RESTELLI:
So what we do is we retroactively work with every state agency to curate that information to put that in our database of every state right. Cannabis important business in the country. When a business goes to register on can trade. We already know exactly who they are before they can put anything in their name. We have business registered that automatically link to their account within our database and then we get them to be able to participate in the market.

Dan Humiston:
It's the MJBulls podcast a show about Raising Cannabis Capital.

Dan Humiston:
I'm Dan Humiston. And on today's show how this former professional football player is helping license cannabis businesses connect with other licensed cannabis businesses to purchase their supplies and the raw materials.

Dan Humiston:
Today in the Raising Cannabis Capital series we are joined by MARK RESTELLI who is the CEO of cann trade. Mark welcome to the MJ bulls podcast.

MARK RESTELLI:
Thanks for having me again.

Dan Humiston:
Hey Mark it's a reoccurring theme on this show and I know you've listened to the show before but so many of our guest got into cannabis or started in the cannabis industry because of an illness or an injury. You're a pro football player gets his part of the business. You had injuries. Is that what got you introduced to cannabis.

MARK RESTELLI:
I mean ultimately yes that's where I ultimately ended up in the cannabis industry. But you know I was introduced to cannabis at a much younger age so it wasn't really a smoker didn't really participate when I played football even though I sustained just the same amount of injuries par for the course when playing football. But it was ultimately a knee injury while I was playing up in Canada for Edmonton that resulted in an ankle injury which went undiagnosed that caused my ankle to lockout which then resulted in a toe injury what had ultimately happened is a fractured presently bones on the ball of my foot. So the two most pointless bones in the body had been fractured one a guy felt like every time I would hit my on the ground it was like stepping on tax. I had the same with that for nearly a year throwing everything at it tree and drugs whatever it may be. And then once it was finally diagnosed it took four surgeries over a three year period just to get it back to something that was functional. I was told I would never run again. And all those things I'm running now. But my football career was ended because of that injury.

Dan Humiston:
And it sounds like you were in a lot of pain during that period of time. Were you using cannabis to cut the pain or was this something you started after that.

MARK RESTELLI:
Oh yeah. So the combination of a lot of things right. So I mean tons and tons of pain. My career is basically over. I mean you're not in a good place mentally you're not in a good place physically. At one point you know I I'm looking at a ton of pills that I had to treat all these injuries which I was normal for my entire career. You have all those. But I just need to make a change. I just realized hey this isn't healthy I'm not a good place I need to figure out something new that's when I started exploring cannabis went and got my medical recommendation and started growing and using cannabis with some movement and then growing in my garage and then quickly fell in love with it and now was seven years ago.

Dan Humiston:
And in 2016 you started cann trade. So let's switch gears and let's talk about cann trade.

MARK RESTELLI:
Yeah so seven years ago I entered the industry during that time I was sales rep for products going in out of stores kind of learning what the industry is like. One of the things that I can point out that time was how hard it was for dispensaries to get supply for manufacturers to find their biomass or their products. They're going to use their ingredients they're going to use to make their products. I had the idea of Camry for a long time but I realized that I didn't myself have the chops to make it happen so it wasn't until in 2016 I was approached by my co-founders which are some tech savvy mania and they came to me and they said hey I really like cannabis spacing I love what's going on here. How do we get into it. And right then I said guys I'm happy you came. I know exactly what we need. Page sat down on a whiteboard and started whiteboard Android so I can trade to be to be a platform.

Dan Humiston:
Here's how it works mostly for businesses wholesale. Walk us through how it works.

MARK RESTELLI:
Okay yes so is three major pillars to which build on the third. First off there's the marketplace. But before you can build a marketplace you have to have the ecosystem of buyers and sellers and then you need to have the infrastructure to be able to supply to that marketplace. So that's where the other two major pillars come then and that's the CRM so that you can manage not only your accounts your orders and that step of the process there and but also take the sales team and apply them to how they're managing those accounts and be able to track all of that. And then third is the database. So Gentry what we do is we retroactively work with every state licensed agency to curate that information to put that in our database of every state license cannabis business in the country. When a business goes to register on can trade we already know exactly who they are before they can put anything in their name. We have business registered that automatically link to their account within our database and then that basically gives them access to be able to participate in the markets and buy sell they can track how they can pinpoint new leads and targets and they can apply their sales teams. All in all we wanted to make sure that we could instantly verify businesses and within the cannabis percent say there's a limited number of businesses that came and participate in these markets not necessarily open to everybody when you register you've got to be one of those businesses.

MARK RESTELLI:
Otherwise you can't participate.

Dan Humiston:
I want to take a. To remind our listeners about a new podcast produced by MJBulls Media Hemp Barons is a weekly show about the company's products and entrepreneurs who are using this amazing plant to create and improve the products we use every day. You can listen to Hemp Barons every Tuesday on Apple iTunes Stitcher Spotify wherever you get your podcasts from.

Dan Humiston:
So the business model when somebody makes a transaction and they can trade site do you guys receive a percentage of that. Or do they pay to be on your site.

MARK RESTELLI:
So a little bit of both but not necessarily the way you laid it out. So within can trade it is free for license cannabis businesses to sign on register participate in the entire ecosystem of the market. So that means buy sell. Now when it comes to the actual sale of products and now entry makes money we're able to apply a subscription model for non cannabis businesses and a service fee for any products that are linked up to businesses within our network. Okay. So grabbing that back can trade it's free or licensed cannabis businesses but businesses outside of the ecosystem that would like to participate have to pay a subscription and a sales.

Dan Humiston:
I see that's a good idea. Yeah. I like that model you have over a thousand businesses right now I can trade. I've just redone like five new companies are signing up every day. So you know this platform is exploding. Up until now you've pretty much funded this whole thing and bootstrapped your way through but now now you're building out phase two. You're starting to market the product and that's going to take a lot of cash. Are you raising money.

MARK RESTELLI:
Yes. We just recently started our seed fund raiser. We've been like you said bootstrap to this point. We've really been focused on product market fit and creating the best product prior to really going into a marketing creation and growth and expansion push. Now is the time is right. We've established our market and ultimately we're trying to put the feet on the ground and the resources apply those to where they need to be. So we can expand nationally.

MARK RESTELLI:
Yes because this is one of those if this is your seed round and you already got it up and running and you've done all the heavy lifting. This is an opportunity for investors to jump in quick before this thing gets oversubscribed.

MARK RESTELLI:
Yeah definitely. The really cool part is on my other end is the tech guy. So we haven't had to spend any money on the actual cost of the product and building and growing a lot of times people are going to dump tons and tons of money in their seed funding into that. But now we're ready to grow.

Dan Humiston:
Yeah you're really almost past the seed round. Most companies would be almost that series A where you are in this in life for your business. So that's I mean this is a good opportunity for investors. We were speaking with MARK RESTELLI the CEO of cann trade. We'll have all of their information on the MJBulls Web site. Mark thanks for being on the show today.

MARK RESTELLI:
Thank you very much for having me again. I really enjoyed most to you know everybody on here and I'm excited to hear more.

Dan Humiston:
Look forward to having you back on again. Good luck.

Dan Humiston:
Just a quick reminder that you can become an Mjbulls member for just four dollars and ninety nine cents per month and enjoy exclusive access to companies pitch decks and the MJBulls cannabis capital directory. Join today at MJBulls.com.

Dan Humiston:
Thanks for listening to the MJBulls podcast. To learn more about today's guests or to become a guest. Visit our Web site at MJBulls.com.

Today's show is produced by Buminit media with original music composed by Jamie Humiston. I'm Dan Humiston and you've been listening to MJBulls Podcast

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