GrowFlow Agrees to Sell to Dama Financial
San Francisco – February 1, 2022 – Cooley advised GrowFlow, a business-to-business software as a service (SaaS) platform dedicated to helping customers grow their cannabis businesses, on its agreement to sell to Dama Financial, the nation’s largest provider of access to banking and payment solutions for the cannabis industry. Partners Dave Young and Steven Dunst led the Cooley team advising GrowFlow.
Combining Dama’s fintech and payment solutions with GrowFlow’s industry-leading software platform will create a sophisticated, comprehensive solution for cannabis companies by integrating product, operations, compliance and financial data in a more usable and flexible solution than any current offering in the industry. The highly scalable platform will fulfill the business needs and regulatory obligations of any licensed cannabis business – dispensary or wholesale – everywhere cannabis is legal in the US.
“I could not be more excited about this merging of minds and technologies,” Travis Steffen, chief executive officer of GrowFlow, said in a news release. “Our leadership teams have nearly identical views of the industry and how it is evolving. Bringing our solutions together will allow us to serve customers in many unique ways and compete on much more than price.”
Founded in 2016, GrowFlow provides compliance, inventory management, point-of-sale, analytics and sales tools for cannabis and hemp businesses at various steps in the supply chain. The company is run by experienced technology founders and executives, and boasts more than 1,500 customers in seven US states – including some of the largest operations in the world.
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