XS Financial Inc., a specialty finance company providing equipment financing solutions to cannabis companies in the United States, announce the following updates as of the year ended Dec. 31, 2021.

Advancing its position as a leading CAPEX financing company to the legal U.S. cannabis industry, XS Financial announced that for the year ended Dec. 31, 2021, the company completed $34.3 million in new lease transactions, a 420 percent year over year increase. In addition, the company closed on new commitments of $106.3 million, a 549 percent year over year increase, which will significantly drive new lease transactions in 2022.

XSF also had a record year in 2021 for fundraising. In 2021, the Company raised a total of $76.3 million, with a significant remaining portion currently available for deployment into new leases in the coming year. As a result, the company anticipates a significant increase in new customers, funded leases and additional commitments for 2022.

"On the back of a record year for the business, we are well-positioned for growth in the coming year,” said David Kivitz, CEO of XS Financial. “We have provided several of our largest customers increased commitments for their growth and are engaged in numerous discussions with several new prospective borrowers. We have recently added staff to our business development and credit review departments to enhance our growth trajectory while ensuring we maintain our turnaround times as our activity increases, which our customers and partners have come to rely upon. We are looking forward to 2022 which should be another banner year for the business."