Safe Harbor, a financial technology company serving the regulated cannabis and hemp industries, launched a one-stop-shop platform with bookkeeping, payroll and CFO support.
Safe Harbor’s platform aims to help operators bank, borrow and operate amid the uncertain policy, regulation, high taxes and limited access to qualified financial support. It can help cannabis businesses fill in the gaps of their existing finance teams or can operate as a fully outsourced financial solution.
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“This is a transformational moment for Safe Harbor and for the cannabis industry,” Safe Harbor CEO Terry Mendez said in a statement. “We have expanded from a single-service provider into a multi-service financial platform that supports day-to-day operations as well as long-term planning and oversight. Our goal is to help operators navigate a challenging environment with clearer information and more reliable financial infrastructure as we move toward becoming the SoFi of cannabis.”
The platform offers operational and financial support like bookkeeping, payroll, reporting, collections and cash management, as well as finance and advisory services like fractional CFO support, forecasting, budgeting, valuations, investor preparation, multi-entity structuring, 280E guidance and M&A support. It also offers banking solutions like secure accounts, digital access tools, payment support, cash logistics coordination and reporting for audit and regulatory needs.
Earlier this year, Safe Harbor launched a fully-managed cannabis banking program for financial institutions.
