Green Check Experiences Unprecedented Growth in Emerging Cannabis Market

Published 22 days ago

Green Check (GC), the premier fintech connector and technology provider in the nascent cannabis market, has announced a series of milestones and achievements from 2023, demonstrating its continued leadership and momentum in the industry.

Significant Growth in 2023

Over the past year, Green Check has seen substantial growth, with more than 8,800 cannabis businesses now using its industry-leading platform, representing a 131% increase. The fintech company has tracked more than $6 billion in sales, marking a 74% increase, and recorded over $9 billion in total deposits across its platform users, a 35% increase.

Building on Progress

Green Check commenced 2023 with the announcement of a $6 million Series A investment round led by Mendon Venture Partners. This funding facilitated Green Check’s mission to create a comprehensive financial services ecosystem for banks, credit unions, and cannabis-related businesses (CRBs). The company also launched Green Check Connect, a unique cannabis business marketplace, and tripled its number of marketplace partners since its launch, reflecting the growing number of business service providers dedicated to the cannabis industry.

Strategic Partnerships and New Offerings

In an effort to assist financial institutions across the nation to scale their cannabis banking programs, Green Check significantly expanded its partnerships in 2023. New partners include Affinity, New Jersey’s largest credit union, Tasi Bank, Illinois-based Credit Union 1, and Main Street Bank.

Green Check also launched Green Check Access, a unified cannabis API, in the fall of 2023. This offering provides a suite of integrations and normalized data, unlocking actionable insights for the cannabis industry while enabling CannaTech and Multi-State Operators (MSOs) to create more customized experiences for their customers.

Industry Recognition

Green Check received numerous industry accolades in 2023. The company won Top Compliance Company for the second time at the 2023 PBC Awards and was recognized as the Best B2B Technology Platform at the 2023 Benzinga Awards. Furthermore, the company was named Top Financial Technology by the Green Market Report, included in the 2023 Forbes Cannabis 42.0, and honored as a 2023 U.S. Fintech Awards ‘Banking Tech of the Year’ finalist.

As the company continues to forge new partnerships, secure funding, and introduce innovative product offerings, Green Check is poised for strong growth through 2024.

About Green Check

Green Check, founded in 2017, is revolutionizing the way cannabis businesses and financial institutions collaborate. The company provides industry-leading technology and advisory services to more than 140 financial institutions and over 8,000 cannabis-related businesses. Green Check has repeatedly been recognized as a Top Compliance Company and Top Compliance Leader at the PBC Awards and was named one of the Best Places to Work in Fintech in 2022 and 2023 by American Banker.