Innovative Early Payment Platform Enables Access to Working Capital for Cannabis Producers
FOR IMMEDIATE RELEASE
November 24, 2023
SASKATCHEWAN, Canada – Weed Pool Cannabis Cooperative, a cooperative dedicated to delivering the best-in-market cannabis products at fair prices for everyone, has announced a strategic partnership with Quickly, a leading Early Payment Platform (EPP) for small and mid-sized businesses. This partnership will give licensed cannabis producers the option to leverage early payments, enhancing their cash flow and growth potential.
Quickly’s cutting-edge platform will offer immediate financial liquidity to Weed Pool’s suppliers, fostering a robust and dynamic cannabis marketplace. The partnership underscores Quickly’s commitment to ensuring businesses have the necessary capital to flourish.
“By partnering with Weed Pool, we are taking a significant step towards resolving the pervasive cash flow challenges within the cannabis industry,” said Kyle Friedman, CEO of Quickly. “Our platform has already accelerated over $10 million in early payments across Canada, and with this partnership, we are poised to inject even more capital into the hands of cannabis entrepreneurs.”
The cooperation between Quickly and Weed Pool is a game-changer for the cannabis sector, providing a tailored solution to meet the unique working capital needs of producers of all sizes. The alliance not only strengthens the cash flow for producers but also amplifies their opportunity for expansion.
“We are excited to partner with Quickly, a company that shares our vision of a thriving grassroots cannabis sector,” said Brett Wells, CEO of Weed Pool. “Through this partnership, our suppliers will gain unparalleled access to capital, enabling them to scale operations and invest in new products.”
As the cannabis industry continues to grow, the demand for accessible and efficient financial services is at an all-time high. In 2023, cannabis businesses on the Quickly platform secured funding 30 times faster than other sectors, a testament to the platform’s efficacy and the industry’s demand.
Click here to learn more about partnering with Quickly.
About Quickly
Quickly is an Early Payment technology that is revolutionizing the way businesses manage their working capitals. Our cutting-edge software empowers companies to unlock cash flow efficiencies like never before. Suppliers can now request early payments on approved invoices and receive funds on day one, while buyers continue to pay within their regular payment terms. This means suppliers get the liquidity they need, when they need it, and buyers maintain their cash reserves. Learn more, visit www.helloquickly.com.
About Weed Pool
Servicing more than 100 stores across Saskatchewan, Weed Pool Cannabis Cooperative is a cooperative of proudly independent retailers dedicated to delivering the best-in-market products at fair prices for everyone. Cooperative members benefit from a large selection of products at better prices, reliable shipping, patronage-style refunds, and a culture of mutual support. In partnership with Western Processing, Weed Pool also provides producers with processing and white-label services. To become Weed Pool supplier, please complete the inquiry form here.
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