D.C.-based New Frontier Financials — a startup that's been referred to as the "Bloomberg for Cannabis"— is in the midst of a $5 million fundraising round, a filing with the Securities and Exchange Commission shows.

Frontier Financial Group Inc., which does business as New Frontier, has raised nearly $2 million since Sept. 30, according to the filing.

CEO Giadha DeCarcer told DC Inno, which first reported the story, the company intends to use the funding to open an office in Denver. The company intends to keep its headquarters in the District. She also said the company is close to completing the round led by the investor group Merida Capital Partners.

Read more from the Denver Business Journal: http://bizj.us/1omwlw.