Jay-Z invested $ 19 Million into Cannabis-Focused Payment Processing Company
Jay-Z continues to expand its ever-growing empire by making a hefty business investment!
According to recent reports, Jay-Z (Real name Shawn Carter) invested $ 19 million in Flowhub, a Denver -based software company. Specifically, Flowhub specializes in point-of-sale systems for marijuana dispensaries-a factor that helps businesses process payments and transactions.
Wake up to Jay-Zinvestment, Flowhub founder and CEO Kyle Sherman said:
“If Jay says‘ I’m not a businessman – I’m a businessman, man ’, it’s true. He has amazing business skills-he really knows how to surround himself with good people and build famous companies. ”
In another statement, Sherman also said:
“This funding not only highlights the significant value Flowhub provides to our customers, but also includes the maturity of the cannabis industry. We remain committed to developing new products that will help our business owners who can run a better business. ”
The investment was also recognized on Flowhub’s Instagram page, where a spokesperson wrote:
“Change: We’ve just closed a $ 19 million funding strategy led by Headline, Poseidon and Shawn ‘Jay-Z’ Carter! What do we plan to do with this money? Accelerate the expansion of those. growing market, Further developing our product line, Developing our social equity program.Helping cannabis entrepreneurs thrive in a more competitive industry even more with useful software and tools. We have an obligation to uplift those who have had the negative and disproportionate impact of the War on Drugs. ”
Surprisingly, Flowhub may not be the only Denver -based business that is Jay-Z join in. As previously reported, Jay-Z Considered a potential new owner for the Denver Broncos, as the current owners are expected to sell the team after the 2021-2022 NFL season.
What do you think about Jay-Z’s latest business move? Comment below to let us know!