Thousands of cannabis businesses now have access to new, centralized options for essential financial and business products and services
BONITA SPRINGS, FL, March 28, 2023 – Green Check Verified (GCV), the leading fintech provider of compliant cannabis banking solutions and services, today announced the expansion of its marketplace to include new providers in key business categories, including banking, lending, insurance, human resources, payroll and payments. The providers were identified, vetted and verified for reliability, cannabis-friendly practices and cost-effective services.
Limited financial and business service options and exploitative pricing have plagued the legal cannabis industry since its inception. While competition among cannabis operators has increased in recent years — driving down prices and increasing the need for efficiency and differentiation — so has the number of providers stepping up to assist these businesses. Still, too few reliable providers serve the industry, and cannabis businesses often struggle with finding these providers.
To fill this void, GCV launched its long-anticipated marketplace — a centralized platform where cannabis businesses can find all of the essential financial and business products needed to successfully grow their operations – in January 2023. With early adopters in place, GCV is now expanding the number of marketplace partners to provide as many quality options as possible for the 4,500 cannabis businesses currently utilizing the platform.
“Green Check has access to a vast network of cannabis-related businesses from across the country, and we are thrilled to be able to offer our services to this network as part of our participation in the marketplace,” says David Drescher, managing director of HUB International, a leading North American insurance brokerage firm. “When you partner with us, you’re at the center of a vast network of experts who will help you reach your goals. At HUB, we possess deep expertise and represent a broad product line in the cannabis space, and this new endeavor with GCV gives us the ability to greatly expand our reach to these businesses.”
The platform’s intelligent matching technology presents options to cannabis businesses based on product/service fit, location, price and a variety of other factors based on provider data and Green Check’s industry-leading insights engine. This ultimately reduces the time, effort and cost businesses spend searching for, vetting and acquiring the services they need to grow. New, key marketplace participants include financial institutions from across the country as well as the following:
- Lending Providers: Chicago Atlantic and FundCanna
- HR/Payroll: Green Leaf Business Solutions, Gusto and Paragon Payroll
- Insurance: AlphaRoot, HUB International and NFP
- Merchant Payments/ Pin Debit: Bankcard International Group and Paynetworx
“The cannabis industry is a fast-growing vertical that has unique needs when it comes to payroll and benefits,” says Sonya Jamula, VP of Channel Development for Gusto, a cloud-based payroll and HR software company. “That’s why Gusto has a dedicated team of experts supporting and servicing cannabis-related businesses (CRBs). We’re excited to partner with Green Check to expand that support. Together, we’ll be able to help many more CRBs build successful businesses that take care of their teams.”
“The payments space in cannabis has had a lot of non-compliant solutions presented to them, which has been a rollercoaster ride for merchants. We are happy to be part of the marketplace to offer a compliant solutions for today and the future when laws change”, says Trent Voigt, CEO of PayNetWorx, a global payments processor. “This marketplace is adding visibility into these options, and we are excited to put our solutions in front of the thousands of businesses on the Green Check platform.”
The expansion of Green Check Connect follows a flurry of announcements from the company, including a $6 million Series A earlier this year, as well as the release of several new product offerings. It has been repeatedly recognized as Top Compliance Company and Top Compliance Leader at the PBC Awards, the premier cannabis industry honors. It also was named in the Top Three Best Places to Work in Fintech in 2022 by American Banker.
“Green Check’s mission is to enable every legal cannabis business access to the financial and business services needed to grow,” says Mike Kennedy, GCV co-founder and chief strategy officer. “By investing in our marketplace and adding new, valuable partners, we are coming closer to fulfilling that mission each day.“
About Green Check Verified
Green Check Verified (GCV) is modernizing the way cannabis businesses and financial institutions work together. Founded in 2017 by a team of technology, banking, and regulatory experts, GCV provides industry-leading technology and advisory services to more than 130 financial institutions and over 4,000 cannabis-related businesses. Green Check Verified was named one of 50 game-changers in the cannabis industry in the 4th annual The Cannabis 50. It has been repeatedly recognized as Top Compliance Company and Top Compliance Leader at the PBC Awards, the premier cannabis industry honors. It also was named as one of top three Best Places to Work in Fintech in 2022 by American Banker. To learn more about Green Check Verified, visit www.greencheckverified.com and follow it on LinkedIn.