Waitr Expanding into Cannabis Market
March 04 2021 - 04:33PM
Business Wire
Waitr Holdings Inc. (Nasdaq: WTRH) (“Waitr” or the “Company”), a
leader in on-demand food ordering and delivery, today announced the
Company has agreed to pursue a partnership with Flow Payments to
create a compliant marketplace, delivery and payment solution for
dispensaries selling cannabis.
The partnership is expected to consist of Waitr’s proprietary
delivery technology and assets, in conjunction with Flow Payments’
unique access to specific partnerships and corresponding payment
processing solutions. The effect of this combination will be the
creation of a specialized platform to facilitate the sale and
delivery of cannabis, while abiding by all federal and state
directives.
“This opportunity with Flow Payments is just another way we are
pivoting the company into new verticals with specialized integrated
payment and delivery solutions,” said Carl Grimstad, CEO and
Chairman of the Board of Waitr. “As the regulatory framework around
the cannabis industry within the United States continues to evolve,
we see this as a natural step in our own evolution and ability to
continue bringing value to our shareholders.”
Brett Husak, Managing Partner of Flow Payments, said, “We are
very excited to partner with Waitr and look forward to helping them
navigate the complexities of payment processing. Building a
statutorily compliant delivery and payment solution in the cannabis
space is the primary goal of a joint venture and we strongly
believe it will create immense value for any dispensary looking to
increase their revenue, while operating within the applicable
guidelines.”
About Waitr Holdings Inc.
Founded in 2013 and based in Lafayette, Louisiana, Waitr is a
leader in on-demand food ordering and delivery. Waitr, and its
sister brand Bite Squad, connects local restaurants and grocery
stores to hungry diners in underserved U.S. markets. Together they
are a convenient way to discover, order and receive great food from
local restaurants, grocery stores and national chains. As of
September 30, 2020, Waitr and Bite Squad operated in small and
medium sized markets in the United States in over 700 cities.
About Flow Payments LLC
Created in 2017, the owners of Flow Payments have over fifty
years’ experience in payment processing. Based in Massachusetts and
California, Flow Payments has various partnerships with a wide
array of banks and processors, which enable them to properly guide
their valued clients. Additionally, Flow Payments uses its
expertise to continuously advise merchants on how to acquire
processing solutions that comply with the numerous regulations
surrounding each, unique vertical.
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