Dama Financial, a provider of access to banking and payment services for the cannabis industry, has acquired GrowFlow Corp., a provider of business management and compliance tools used to process over $3.3 billion for cannabis retailers, cultivators, processors and distributors.
The business combination results in a comprehensive service for cannabis firms, integrating product, operations, compliance and financial data. The company will fulfill the business needs and regulatory obligations of any cannabis related firm.
“I could not be more excited about this merging of minds and technologies,” said Travis Steffen, chief executive officer of GrowFlow. “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.”
Greenhill & Co., LLC is acting as financial advisor and Goodwin Proctor LLP is acting as legal advisor to Dama. Cooley LLP is acting as legal advisor to GrowFlow.