Cannabis Companies Can Now Raise Money Using Credit Cards: How Does It Even Work?

KoreConX, an all-in-one platform for data management and compliance is “enabling companies to raise money by accepting credit cards.” Companies “are now able to accept investments via credit cards from investors using KoreConX All-In-One Platform, (...) without the abusive high fees normally charged by companies in this sector,” reads a press release published Monday afternoon.

According to the release, KoreConX “provides the first secure online infrastructure for private companies to conveniently and compliantly manage every aspect of their capital market activities, from issuing securities to shareholder relations.”

“It sounds like a simple solution, but it can actually revolutionize how the sector operates. Using the exemptions of Regulation A+, Regulation CF, or Regulation D, companies can easily turn their customers and brand advocates into shareholders,” added KoreConX.

The company says the initiative can put an end to the issue of high fees traditionally levied on the cannabis sector “due to perceived higher risk and lack of nationwide legalization.”

A Blockchain-Based Solution

KoreConX All-In-One Platform says it uses its own proprietary solution based on blockchain to make transactions and shareholder management safe for investors and entrepreneurs.

"Our Platform can be integrated with the company's URL, making it user-friendly and reducing the risk of taking users to other websites," explained Oscar Jofre, CEO and co-founder of KoreConX in the press release.

The innovation for the cannabis ecosystem seems to be the possibility “to make customers into shareholders, by making investing easy. Our partnership with SecureTranz allows the credit card use, as well as providing options to complement wire transfer, ACH, and crypto payments," added Jofre.

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