Cannabis and hemp compliance software provider Simplifya announced a $2 million equity capital raise, and a portion of the funds will go to eliminating all of the company’s outstanding debt. The funding round was spearheaded by strategic investor ITWH LLC, a subsidiary of fintech company In The Weeds, with additional investment from Blue Zone Wealth Advisors. In addition to becoming a debt-free entity, the company will also be able to accelerate innovation and expansion initiatives.
Simplifya operates as a regulatory and operational compliance software platform dedicated to supporting the growing cannabis and hemp industries in the United States. The company provides a fully integrated platform featuring compliance tools designed to help licensed operators, financial institutions, insurers and other stakeholders navigate complex and constantly shifting regulations. By offering these solutions, Simplifya helps its clients mitigate compliance-related risks, avoid penalties and fines and secure better access to capital and insurance coverage.
Looking ahead, the company is focused on broadening its product capabilities and leveraging new strategic partnerships. As part of this growth plan, Simplifya recently launched Hemp Regfinder, a searchable database that covers state-by-state hemp regulations. Furthermore, the firm has entered a partnership with In The Weeds to provide solutions for insurance carriers, banks and lenders within the sector. This collaboration is specifically aimed at simplifying regulatory navigation and streamlining the process for cannabis and hemp businesses to obtain necessary insurance and financing.
