Companies dealing in legal cannabis will no longer have to feel like “dealers” having to haul all that cash around if a new app is developed to allow pot companies to close transactions more easily. Former real estate broker David Dinenberg, with the help of daughter of Comcast Spectacor head Ed Snider, Lindy Snider, have raised $2 million for an app that will be “the financial solutions platform provider for the quickly growing legal cannabis industry, ” according to Philly.com.
The app will be linked to a pre-paid debit account that will enable cannabis companies to avoid lugging dangerous cash, since PayPal and credit card companies do not want to deal with the legal cannabis business. Snider, who lost her mother to painful bone cancer and is a cancer survivor herself, does not use marijuana recreationally, but wants to support the industry which has provided help and pain relief to cancer patients She told Philly.com that after opiates did not work for her mother, she was given a cannabis product, “and it was the first time in eight months she slept through the night, ” Snider said. “There is a lot of anecdotal support, ” even while some clinical trials are still needed.
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Snider added, “No one wants their kids running around with total access to this. But wouldn’t you rather have it regulated?”
