Dan Roda Transitions from Fintech to Cultivation as Chief Strategy Officer at Natural State Medicinals
Little Rock, AR — Dan Roda, a prominent figure in the cannabis industry, has transitioned from fintech to hands-on cannabis operations as the new Chief Strategy Officer for Natural State Medicinals (NSM), one of Arkansas’s leading cultivators. Roda’s journey began in 2016, driven by his passion for medical cannabis and a challenge from his wife to engage in the emerging market.
Armed with a law degree from Villanova University and a business degree from Tulane University, Roda initially practiced law in areas like business formation and capital fundraising. After the legalization of medical cannabis in Arkansas, he co-founded the Arkansas Medical Marijuana Association, later merging it with the Arkansas Cannabis Industry Association. His insight into the financial challenges of the industry led him to co-found Abaca, a fintech firm that provided compliant banking solutions for cannabis operators, enabling them to transition from cash-only operations to secure banking.
Under Roda’s leadership, Abaca became a nationwide banking leader in the cannabis sector before its acquisition by Safe Harbor Financial, where he spearheaded a cannabis lending program deploying over $50 million across multiple markets.
At NSM, Roda aims to build upon the company’s reputation for high-quality, craft cannabis products while exploring innovative offerings, particularly in the burgeoning cannabis beverage sector. He stresses the importance of patient education and access, especially in rural areas, as essential for market growth.
With discussions around federal rescheduling gaining traction, Roda anticipates improvements in access to capital, though he recognizes that state laws will still dictate operations. He highlights the need for legislative changes such as the elimination of the burdensome IRS code 280E to enhance cash flow and investment in the cannabis industry. Embracing his new role, Roda expresses excitement for the opportunity to contribute directly to cannabis cultivation and patient welfare in Arkansas.
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