Cannabis Payment Solution Platform Alt Thirty Six Secures $10M USD In Series A Funding

Blockchain, Investing, News | April 24, 2019 By:

Cannabis payment solution platform Alt Thirty Six has raised $10 million in its Series A funding round. The round was reportedly led by an unnamed private equity firm to support Alt Thirty Six’s platform.

Alt Thirty Six connects cannabis merchants, with their vendors, suppliers, and consumers by facilitating transactions in real-time. The company’s platform eliminates the need for cash in the cannabis industry by using blockchain technology and Dash, a decentralized digital asset, to facilitate the transfer of funds at dispensaries and cannabis businesses.

The company said that the funding will be used to further drive company expansion, advance the platform’s technical functions and abilities, expand proper licensing in target states across the US, while maintaining focus on compliance and regulation. The company’s ultimate goal is to achieve mass consumer adoption throughout the cannabis industry.

“We are committed to revolutionizing the cannabis space by increasing access to compliant digital payments, making transactions easier and faster for all cannabis businesses,” said Ken Ramirez, co-founder and CEO of Alt Thirty Six. “This new Series A funding round provides us access to the resources we need to help facilitate our vision for one of the fastest growing industries in the country.”