Confia, a California-based platform for financial compliance, B2B/B2C transactions and secure banking services designed for the cannabis industry, said Thursday that it will team up with Eaze’s Momentum business accelerator as the preferred financial services provider for the program’s participants and alumni.
Momentum, which launched in 2019, cultivates the growth and success of underrepresented cannabis business founders by providing access to grants, education and capital.
Under the partnership’s terms, Confia will provide Momentum participants and alumni with preferred banking terms, access to financial planning resources and banking fees of just $250 per month.
Confia also agreed to financially sponsor Momentum’s grant program and host financial services workshops throughout the year.
The program’s participants are entitled to a $50,000 grant, a 12-week business development program led by industry experts and support from Eaze’s business, marketing, legal and PR resources.
Following the 12-week program, participants will have an opportunity to raise additional funds by pitching their businesses to industry-defining investors.
Mark Lozzi, Confia’s founder and CEO said that by supporting Momentum, the company is giving back to the cannabis community by “helping underrepresented founders access hard-to-find financial services.”
Jennifer Lujan, Eaze’s director of social impact, thanked Confia “for their generosity.”
“Accessing capital and banking is a perennial challenge for cannabis entrepreneurs,” Lujan added.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Meet the biggest cannabis industry players and make deals that will push the industry forward.
Featuring live company presentations, insider panels, and unmatched access to networking, the Benzinga Cannabis Capital Conference is where cannabis executives and entrepreneurs meet.
Join us April 11-12, 2023 at Fontainebleau Miami Beach in sunny Florida.