FundCanna has launched their new product, ReadyPaid. This payment solution is developed specifically to meet the needs of the cannabis industry, bridging the gap of cash flow management between sellers and buyers.
ReadyPaid is a cannabis industry business-to-business (B2B) Buy Now, Pay Later (BNPL) solution, offering Net30 payment terms with the added option to extend terms for up to six additional months.
The cannabis industry is rapidly expanding. BDSA forecasts sales to grow at a compound annual growth rate (CAGR) of 10% from 2023 to 2028, resulting in a $58 billion market by 2028. Despite this growth, according to Whitney Economics, the industry faces significant challenges with delinquent accounts receivable, including a staggering $3.8 billion in delinquent payments. The industry ranks delinquent accounts receivable as their number one concern over IRC 280E and other concerns.
Adam Stettner, founder and CEO of FundCanna said "As the cannabis industry continues to evolve and grow, we've identified a critical need for financial solutions that address the unique cash flow management challenges faced by both vendors and buyers. FundCanna is well positioned to offer solutions that offer unrestricted cash and enable payment terms that match revenue cycles. Our new and innovative BNPL solution, ReadyPaid is designed to address the most pressing need of the cannabis industry, delinquent accounts receivable. FundCanna continues to innovate to meet the needs of the industry and help our clients grow. Our core funding products have been leveraged by nearly 2,000 clients and our average client has increased their top line revenue by over 50% since working with us."
For more information:
FundCanna
fundcanna.com