Marijuana fintech firm Green Check Verified raises $6 million

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Florida-based marijuana fintech provider Green Check Verified raised $6 million in a Series A funding round led by venture capital investment firm Mendon Venture Partners.

Green Check Verified did not specify what the money would be used for.

Mendon Venture Partners, headquartered in New York, describes itself as a “venture capital investment firm focused on the intersection of innovative technology and banks.”

Mendon co-founder and partner Daniel Goldfarb said in a statement that, “to invest, we need to see strong management, company potential, and opportunity for total market growth, and Green Check meets and exceeds our expectations in every category.”

He added that Green Check CEO and co-founder Kevin Hart’s “vision for the company combined with the regional expansion of the legal cannabis industry and increasing number of financial institutions seeking to service the ballooning universe of cannabis-related businesses makes a compelling investment case.”

According to a news release, the funding follows an eventful 2022 for Green Check, including:

  • 87% revenue growth.
  • 55% growth in its financial client base.
  • 261% growth in its cannabis business client base.
  • The acquisition of PayQwick, an online payment processor for cannabis businesses.