Meet Dama Financial, A 2020 Benzinga Global Fintech Awards Finalist

Benzinga will be holding its annual Benzinga Global Fintech Awards, a day of dealmaking, networking, and recognition in the financial technology space, on Nov. 10, 2020.

In recognition of those disruptive innovators creating positive and diverse change within the financial services space, Benzinga presents Dama Financial.

About Dama Financial

Founded in 2016, Dama Financial is a fintech specializing in secure banking for cash-intensive businesses. More specifically, the company is a financial services provider in the FDIC-insured banking space, allowing cannabis businesses access to flexible merchant processing, payments, and cash management solutions.

In the simplest way possible: Dama Financial is a banking technology for cannabis businesses.

Core Product Portfolio

Dama Financial comes as a holistic solution for compliant cannabis banking, allowing customers holistic access to electronic cannabis and hemp trading, invoicing and payments tech, and premier business banking.

The company’s core product portfolio consists of the following products:

• Premier: Full-suite of banking products for cannabis-related companies.
• CashToTax: A secure and convenient way to make electronic tax payments.
• Paytender: Scan-and-go payments with one-day settlements.
• Invoices: Send and track invoices and accept payments from partners.
• Trading: Make cash or ACH payments for cannabis orders on online markets.

Use Case, Recent Developments

On April 23, Dama Financial announced the addition of CashToTax, a service allowing cannabis businesses in Sacramento, California a safe and convenient way to electronically pay taxes and licensing fees.

In a statement on the development, Chief Revenue Officer Eric Kaufman said: “Cash is inconvenient, expensive, unsafe, and especially high risk for those handling cash during COVID-19. With CashToTax, the City of Sacramento is prioritizing the safety of the cannabis businesses and its citizens, as well as providing cannabis-related businesses a new and efficient method to pay their taxes and permit fees.”

Innovation Outlook

Going forward, Dama Financial looks to be on the front lines of innovation in the cannabis banking space. It will accomplish this through tech innovation and partnerships.

“We are creating the comprehensive critical financial architecture to empower the cannabis industry to operate as if it were a non-cannabis related industry. We’re providing access to solutions which CRBs desperately need. And, we continue to evolve by creating new products and services by listening to our customers and the industry at large and build solutions for their financial needs, which is both exciting and invigorating,” said Kaufman.

To learn more about Dama Financial, click here.