THE PROBLEM:For marijuana growers and retailers in the 20 states that have legalized the drug for
recreational or medical use, money and banking are perhaps the most vexing challenges of doing business in what may be as high as a $120B per year market eventually. Piles of cash accumulate in back rooms and safes, making the businesses, their employees and their customers a target for robberies. Businesses often have no access to business loans or regular lines of credit. Many say they struggle to even keep a checking account open to pay their employees or electricity bills.
THE SOLUTION: SING = Which will be a mix of the Starbucks Mobile Pay App and Stripe, a online payment system that avoids banks directly and sets up analytics..
In 2011, Stripe, which has a $2B valuation itself, launched its developer-friendly online payments system that allowed site owners to avoid setting up merchant accounts and dealings with banks, while still ensuring transaction safety. With an eye for design and simplicity, the platform was an instant hit with developers. On the backend, Stripe supports multiple programming languages and can be deployed in minutes/ On the front end, the experience for the consumer is easy as well. The company’s API makes it easy for a merchant to store cards, enable subscriptions, and direct payouts to a bank account on a large-scale.
News 
Market Data 
Discover 
AI
