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Cannabis fintech company reports unprecedented growth in 2023

Green Check (GC) announced a series of milestones and achievements from 2023 that reflect its continued momentum in the industry.

Year-over-year, Green Check experienced significant growth, with more than 8,800 cannabis businesses now on its platform (131% increase), with more than $6 billion in sales tracked (74% increase), and over $9 billion in total deposits (35% increase) across the platform users.

“As we usher in the new year, we’re invigorated by all that we have accomplished in 2023 to connect legal cannabis operators with financial institutions across the country,” said Kevin Hart, CEO and co-founder of Green Check. “We look forward to building on our progress with the acquisitions of PayQwick and Komplyd and remain staunchly committed to equipping banks, credit unions, and cannabis-related businesses with the financial tools they need to contribute to their communities at their highest potential. Together, we can help foster a more inclusive financial system and flourishing economy.”

GC kicked off 2023 by announcing its $6 million Series A investment round led by Mendon Venture Partners, which propelled GC on its mission to establish a holistic financial services ecosystem for banks, credit unions, and CRBs.

Last year, GC also debuted the first-of-its-kind cannabis business marketplace, Green Check Connect. This platform offers cannabis businesses a centralized network of reliable, trustworthy and cost-effective financial and business service providers, all of which have been vetted by GC’s team of experts. Since its launch, GC has tripled its number of marketplace partners, representing the growing number of business services providers dedicated to supporting the cannabis industry.

As part of its ongoing efforts to help financial institutions nationwide scale their cannabis banking programs, Green Check dramatically expanded its footprint in 2023, joining forces with a number of new banks and credit unions. New partners serving clients nationwide include Affinity, New Jersey’s largest credit union; Tasi Bank in the SF Bay Area; Illinois-based Credit Union 1 (CU1); and Main Street Bank, which serves communities in Massachusetts.

To help expand data connectivity and business-critical insights for cannabis operators, GC launched Green Check Access in the fall of 2023 – a unified cannabis API offering a suite of integrations and normalized data. Green Check Access unlocks actionable insights for the cannabis industry while empowering CannaTech and MSOs to build better, more tailored experiences for their customers.

GC garnered industry accolades in 2023, including winning Top Compliance Company for the second time at the 2023 PBC Awards and being recognized as the Best B2B Technology Platform at the 2023 Benzinga Awards. In addition, GC was awarded Top Financial Technology by the Green Market Report, included in the coveted 2023 Forbes Cannabis 42.0, honored as a 2023 U.S. Fintech Awards ‘Banking Tech of the Year’ finalist, and named one of 50 game-changers in the cannabis industry in the 4th annual The Cannabis 50.

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