Treez, a San Francisco, CA-based provider of an enterprise commerce technology platform for the cannabis retail and supply chain industry, acquired Swifter, a San Francisco, CA-based payment solutions platform focused on the cannabis industry.
The amount of the deal was not disclosed.
Through the acquisition, Treez will be able to provide embedded partner-powered fintech solutions that will lead to transparency, stability and better processing rates for retailers. Additionally, Treez will be able to leverage and further build upon the Swifter technology to allow more traditional banks and fintech providers to more easily enter the space as legislation efforts like SAFE banking get closer to passing.
Led by Sowmya Rao, who will remain with Treez as Director of Payments, Swifter offers a suite of payments solutions tailored to the unique needs of the cannabis industry. Standalone dispensary, MSO, or a marketplace, use the software and APIs to accept payments, send payouts, and charge growth. The company was selected as part of the 2020 class at the Y Combinator accelerator.
Led by CEO John Yang, Treez is an enterprise cloud commerce platform that streamlines retail and supply chain operations within the cannabis market. Through its technology and open API platform for retailers and brands, the company provides digital payments solutions, along with dedicated 24/7 customer support, required to operate a modern dispensary.
FinSMEs
04/11/2022