Monday, October 30, 2017

PayQwick Inhales $2.86M For Electronic Payments

Calabasas-based PayQwick, an electronic payment provider aiming at the legal marijuana industry, has raised $2.86M in a funding round, the company announced on Monday. Source of the funding was not announced. PayQwick says it will use the funding for sales and product development, as well as expansion into California, Nevada, Michigan and Alaska. PayQwick says it allows legal marijuana businesses to pay each otehr electronically, claiming it is compliant with strict Bank Secrecy Act and Anti Money Laundering compliance programs. PayQwick's CEO is Keith Marks, and the company was co-founded by Ken Berke.