Waitr Holdings (WTRH) Says It's Expanding into Cannabis Market
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Waitr Holdings Inc. (Nasdaq: WTRH) (“Waitr” or the “Company”), a leader in on-demand food ordering and delivery, today announced the Company has agreed to pursue a partnership with Flow Payments to create a compliant marketplace, delivery and payment solution for dispensaries selling cannabis.
The partnership is expected to consist of Waitr’s proprietary delivery technology and assets, in conjunction with Flow Payments’ unique access to specific partnerships and corresponding payment processing solutions. The effect of this combination will be the creation of a specialized platform to facilitate the sale and delivery of cannabis, while abiding by all federal and state directives.
“This opportunity with Flow Payments is just another way we are pivoting the company into new verticals with specialized integrated payment and delivery solutions,” said Carl Grimstad, CEO and Chairman of the Board of Waitr. “As the regulatory framework around the cannabis industry within the United States continues to evolve, we see this as a natural step in our own evolution and ability to continue bringing value to our shareholders.”
Brett Husak, Managing Partner of Flow Payments, said, “We are very excited to partner with Waitr and look forward to helping them navigate the complexities of payment processing. Building a statutorily compliant delivery and payment solution in the cannabis space is the primary goal of a joint venture and we strongly believe it will create immense value for any dispensary looking to increase their revenue, while operating within the applicable guidelines.”
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