Simplifya, a provider of compliance software services for the cannabis industry, announced Wednesday the launch of its latest service offering, Simplifya Verified.
The idea behind the service is to offer businesses a special verification system of cannabis licenses. Out of 33 states where cannabis is legalized, 29 provide cannabis license data to the public, according to the company.
Simplifya has compiled the data on more than 40,000 license records, enabling Simplifya Verified users to access needed information more quickly. The new service offers almost real-time verification, minimizing the possibility of inaccurate information.
"One of the major problems facing the cannabis industry is understanding exactly with whom you are doing business," Marion Mariathasan, CEO and co-Founder of Simplifya said in a statement. "Specifically, when a business is conducting due diligence on an acquisition candidate, it is often difficult to determine whether an operator's license is current and valid.”
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“Simplifya Verified is a fast, easy-to-use search engine that provides all of the data points needed for verification, taking the guesswork out of business transactions and delivering companies a much-needed risk management tool to confidently grow their businesses."
Mariathasan added that the service is useful to people working in various industry sectors, from operators, across realtors, to financial institutions.
“Our platform streamlines each of these difficult, lengthy and complicated processes into a simple tool for companies to mitigate risk and confidently pursue business deals within the cannabis space," Mariathasan said.