SinglePoint Brings In $4 Million
SinglePoint announced it has secured $4 million in financing, $1.2 million of which has already been collected, including $600,000 from corporate investor United American HealthCare Corp.
SinglePoint’s subsidiary company SingleSeed is a payment solution provider to the cannabis industry. Its mobile Cashless ATM provides convenience, safety, and inventory control/tracking for delivery services and busy dispensaries that cannot access the traditional banking system.
SinglePoint’s Bitcoin Payments solution addresses the challenges of the “unbanked” cannabis industry, which is hampered by federal regulations that have significantly reduced banking options.
The company said that with this new round of funding, Singlepoint is positioned to aggressively develop and complete its Bitcoin Payments solution.