DENVER--(BUSINESS WIRE)--Simplifya, the leading provider of regulatory and operational compliance software for the cannabis industry, is proud to announce it has closed $6 Million in Series B funding. The round was led by Blue Zone Wealth Advisors, with participation from existing investors Merida Capital and previous shareholders, as well as the addition of several new investors, including Mercury Payment Solutions Founder Jeff Katz, who also joins the company’s Board of Directors.
Simplifya’s Series B funding will be utilized to expand the company’s operational footprint and lay the groundwork for the implementation and launch of its newest product offering, TENDRTM. TENDRTM is poised to be the cannabis industry’s most compliant, cyber-secure B2B and retail consumer payment solution. Powered by payments industry technology leaders, TENDRTM’s payment processing solution utilizes the Automated Clearing House in collaboration with an ODFI (Originating Depository Financial Institution) in order to ensure a compliant, lasting, payment solution for participating cannabis-related businesses (CRBs).
In addition to best-in-class, compliant payment processing technologies, TENDRTM will make available a customizable digital commerce suite of solutions designed to empower its Point of Sale (POS) and Enterprise Resource Planning (ERP) partners to deliver unmatched user experiences and customer loyalty to their cannabis industry clients. This suite of commerce solutions -- which includes e-commerce, employee incentives, customer loyalty/rewards, and direct to consumer (DTC) marketing -- is built on proven technology that has been in use for more than nine years by one of the largest coffee retailers in the country, boasting more than 11,000 locations worldwide.
“We have been incredibly fortunate to have investors and a board of directors who understand the value that our commitment to compliance will lend to the successful launch of TENDRTM,” said Marion Mariathasan, Simplifya Co-Founder & CEO. “Simplifya’s established reputation as a trusted compliance partner serves as a reinforcement that our partners can confidently trust in our ability to compliantly serve their payment processing needs.”
TENDRTM will launch in beta with POS clients before the end of Q2.
For more information, visit www.simplifya.com.