Cannabis fintech Bespoke to expand BNPL base in cash-starved industry

FILE PHOTO: An employee puts down an eighth of marijuana after letting a customer smell it outside the Magnolia cannabis lounge in Oakland, California, U.S. April 20, 2018. Friday marked the first '4/20' since the sale of recreational marijuana became legal on January 1. REUTERS/Elijah Nouvelage

(Reuters) - Fintech firm Bespoke Financial is looking to expand its 'buy now pay later' service for cannabis businesses in California and Massachusetts later this year, its Chief Executive George Mancheril said on Thursday.

The push comes after a successful pilot launch in July that allowed cannabis retail outlets to buy products from producers using the service that allows them to pay back after its sale.