Safe Harbor Financial and Würk Partner to Expand Access to Cannabis Financial Services and Workforce Solutions
Safe Harbor Financial (NASDAQ: SHFS) and Würk have announced an expanded strategic partnership to provide integrated financial services and workforce solutions to the cannabis industry. The partnership establishes a mutual referral program where Würk will introduce cannabis-related businesses to Safe Harbor's digital-first banking solutions, while Safe Harbor will refer clients to Würk's industry-specific HCM services.
The collaboration aims to address one of the cannabis industry's most significant challenges: access to reliable banking and workforce management solutions. According to the companies, as of 2023, 70% of cannabis businesses cited 'lack of access to banking or investment capital' as their primary challenge. The non-exclusive agreement allows both companies to maintain relationships with other industry partners while helping cannabis entrepreneurs secure fair banking rates and establish personal bank accounts with cannabis-friendly institutions.
Safe Harbor Financial (NASDAQ: SHFS) e Würk hanno annunciato un'espansione della loro partnership strategica per fornire servizi finanziari integrati e soluzioni per la forza lavoro all'industria della cannabis. La partnership prevede un programma di referral reciproco in cui Würk presenterà aziende legate alla cannabis alle soluzioni bancarie digitali di Safe Harbor, mentre Safe Harbor indirizzerà i clienti ai servizi HCM specifici per il settore di Würk.
La collaborazione mira a affrontare una delle sfide più significative dell'industria della cannabis: l'accesso a soluzioni bancarie affidabili e alla gestione della forza lavoro. Secondo le aziende, nel 2023, il 70% delle imprese di cannabis ha citato 'la mancanza di accesso a servizi bancari o capitale d'investimento' come la loro principale sfida. L'accordo non esclusivo consente a entrambe le aziende di mantenere relazioni con altri partner del settore, mentre aiutano gli imprenditori della cannabis a ottenere tassi bancari equi e a stabilire conti bancari personali con istituzioni favorevoli alla cannabis.
Safe Harbor Financial (NASDAQ: SHFS) y Würk han anunciado una ampliación de su asociación estratégica para proporcionar servicios financieros integrados y soluciones de fuerza laboral a la industria del cannabis. La asociación establece un programa de referencia mutuo en el que Würk presentará negocios relacionados con el cannabis a las soluciones bancarias digitales de Safe Harbor, mientras que Safe Harbor referirá clientes a los servicios HCM específicos de la industria de Würk.
La colaboración busca abordar uno de los desafíos más significativos de la industria del cannabis: el acceso a soluciones bancarias confiables y a la gestión de la fuerza laboral. Según las empresas, en 2023, el 70% de los negocios de cannabis citó 'la falta de acceso a servicios bancarios o capital de inversión' como su principal desafío. El acuerdo no exclusivo permite a ambas empresas mantener relaciones con otros socios de la industria mientras ayudan a los emprendedores del cannabis a asegurar tarifas bancarias justas y establecer cuentas bancarias personales con instituciones amigables con el cannabis.
세이프 하버 파이낸셜 (NASDAQ: SHFS)와 Würk는 대마초 산업에 통합 금융 서비스 및 인력 솔루션을 제공하기 위한 전략적 파트너십 확대를 발표했습니다. 이 파트너십은 Würk가 대마초 관련 비즈니스를 세이프 하버의 디지털 우선 은행 솔루션에 소개하고, 세이프 하버는 고객을 Würk의 산업 특정 HCM 서비스에 소개하는 상호 추천 프로그램을 수립합니다.
이 협업은 대마초 산업의 가장 큰 과제 중 하나인 신뢰할 수 있는 은행 및 인력 관리 솔루션에 대한 접근성을 해결하는 것을 목표로 합니다. 두 회사에 따르면, 2023년 현재 70%의 대마초 비즈니스가 '은행 서비스 또는 투자 자본에 대한 접근 부족'을 주요 문제로 지적했습니다. 비독점 계약은 두 회사가 다른 산업 파트너와의 관계를 유지하면서 대마초 기업가들이 공정한 은행 요금을 확보하고 대마초 친화적인 기관과 개인 은행 계좌를 개설하는 데 도움을 줍니다.
Safe Harbor Financial (NASDAQ: SHFS) et Würk ont annoncé un partenariat stratégique élargi pour fournir des services financiers intégrés et des solutions de gestion de la main-d'œuvre à l'industrie du cannabis. Ce partenariat établit un programme de recommandation mutuelle dans lequel Würk présentera des entreprises liées au cannabis aux solutions bancaires numériques de Safe Harbor, tandis que Safe Harbor orientera des clients vers les services HCM spécifiques à l'industrie de Würk.
La collaboration vise à relever l'un des défis les plus importants de l'industrie du cannabis : l'accès à des solutions bancaires fiables et à la gestion de la main-d'œuvre. Selon les entreprises, en 2023, 70 % des entreprises de cannabis ont cité 'le manque d'accès aux services bancaires ou au capital d'investissement' comme leur principal défi. L'accord non exclusif permet aux deux entreprises de maintenir des relations avec d'autres partenaires de l'industrie tout en aidant les entrepreneurs du cannabis à obtenir des taux bancaires équitables et à établir des comptes bancaires personnels auprès d'institutions favorables au cannabis.
Safe Harbor Financial (NASDAQ: SHFS) und Würk haben eine erweiterte strategische Partnerschaft angekündigt, um integrierte Finanzdienstleistungen und Lösungen für die Belegschaft in der Cannabisindustrie anzubieten. Die Partnerschaft etabliert ein gegenseitiges Empfehlungsprogramm, bei dem Würk cannabisbezogene Unternehmen an die digitalen Banklösungen von Safe Harbor vorstellen wird, während Safe Harbor Kunden an die branchenspezifischen HCM-Dienste von Würk verweist.
Die Zusammenarbeit zielt darauf ab, eine der größten Herausforderungen der Cannabisindustrie anzugehen: den Zugang zu zuverlässigen Bank- und Workforce-Management-Lösungen. Laut den Unternehmen gaben 2023 70 % der Cannabisunternehmen an, dass 'der Mangel an Zugang zu Bank- oder Investitionskapital' ihre größte Herausforderung darstellt. Die nicht-exklusive Vereinbarung ermöglicht es beiden Unternehmen, Beziehungen zu anderen Branchenpartnern aufrechtzuerhalten, während sie Cannabisunternehmern helfen, faire Bankkonditionen zu sichern und persönliche Bankkonten bei cannabisfreundlichen Institutionen zu eröffnen.
- Strategic partnership expands access to financial services for cannabis businesses
- Mutual referral program creates new business opportunities for both companies
- Addresses a major industry pain point where 70% of cannabis businesses struggle with banking access
- None.
Insights
Safe Harbor Financial's strategic partnership with Würk addresses a critical market pain point in the cannabis industry - access to banking services. According to the article, as recently as 2023,
This non-exclusive mutual referral program creates a complementary ecosystem connecting Safe Harbor's financial services with Würk's Human Capital Management solutions. For SHFS, this represents a strategic client acquisition channel without requiring significant capital investment - particularly valuable for a company with a modest
The partnership's value lies in its potential to accelerate customer acquisition by leveraging Würk's established position as a leading HCM provider in the cannabis sector. Cannabis businesses working with Würk for payroll and HR services represent a pre-qualified client pool for Safe Harbor's banking solutions.
While the absence of exclusivity provisions and specific financial projections limits the immediate quantifiable impact, this arrangement demonstrates management's focus on addressing market gaps through strategic alliances. For cannabis operators, the integrated approach to workforce and financial compliance reduces friction in two critical operational areas.
This partnership tackles one of the cannabis industry's most persistent structural problems - the disconnect between legitimate business operations and financial services access. Cannabis operators face a frustrating paradox: they must maintain compliant operations while being denied standard financial tools needed to operate efficiently.
By connecting Würk's workforce management platform with Safe Harbor's banking solutions, the partnership creates an efficiency multiplier effect. Cannabis businesses can streamline two compliance-heavy operational functions that typically require specialized expertise and separate vendor relationships.
The non-exclusive nature of this agreement actually benefits cannabis operators by maintaining competitive options rather than creating a closed ecosystem. From an industry development perspective, this type of functional integration represents an important maturation step as the cannabis sector builds more sophisticated business infrastructure.
The partnership has particular value for smaller and mid-sized cannabis operators who lack the resources to navigate these complex regulatory environments independently. By sharing clients across complementary services, both Safe Harbor and Würk effectively lower customer acquisition costs while potentially increasing service adoption - a win for service providers and cannabis businesses alike.
Strategic partnership connects cannabis operators to compliant financial and workforce solutions, addressing one of the industry’s most persistent challenges
DENVER, April 03, 2025 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a Safe Harbor Financial (Safe Harbor) (Nasdaq: SHFS), a fintech leader in facilitating financial services and credit facilities to the regulated cannabis industry is expanding its partnership with Würk, the first and leading Human Capital Management (HCM) company in the cannabis industry. Through this strategic partnership, Safe Harbor and Würk and will establish a mutual referral program leveraging their combined expertise in providing innovative HCM and financial services solutions to help cannabis businesses secure the banking1 rates and financial support necessary for success.
As the cannabis sector matures and regulatory complexities grow, these integrated services offer operators a crucial advantage in navigating compliance and scaling effectively. Under the agreement, Würk will introduce cannabis-related businesses (CRBs) to Safe Harbor’s digital-first banking solutions, while Safe Harbor will refer clients to Würk for industry-specific HCM services. Together, Würk and Safe Harbor will employ their deep knowledge of the evolving industry and technological solutions to connect cannabis entrepreneurs with fair banking rates and effective financial resources. While the agreement formalizes a strategic referral partnership, it is non-exclusive, allowing both companies the flexibility to continue serving a wide range of industry clients and partners.
Safe Harbor and Würk are bolstering their collaborative efforts to help enterprises overcome one of the industry’s most common challenges: access to reliable, transparent and compliant banking solutions. By bridging the gap between workforce management and financial accessibility, Würk and Safe Harbor will also help cannabis professionals establish personal bank accounts with institutions that fully recognize and support the industry. This partnership is designed to help cannabis entrepreneurs address both financial and operational roadblocks that limit their ability to compete and grow.
“As recently as 2023, seven in ten cannabis businesses said the ‘lack of access to banking or investment capital’ was their top challenge—and that reality is still holding back innovation and growth,” said Deborah Saneman, CEO of Würk. “By partnering with Safe Harbor, we’re able to connect our clients to critical resources they need to thrive. Just as Würk helps simplify people management in a highly regulated space, Safe Harbor streamlines access to reliable financial services. Together, we’re not just solving a pain point—we’re laying the groundwork for long-term stability and expansion across the cannabis sector.”
“This partnership is more than just a referral program—it’s a shared commitment to solving one of the most persistent and painful challenges in the cannabis space: access to financial services,” said Terry Mendez, CEO of Safe Harbor Financial. “By connecting our clients to Würk’s industry-leading workforce tools and offering their clients access to our compliant financial services, we’re helping businesses potentially reduce costs while bridging two foundational needs – people and capital. Together, we’re creating real pathways for cannabis operators to grow with confidence, compliance, and lasting support.”
Safe Harbor Financial is a fintech leader facilitating financial services and credit facilities to the regulated cannabis industry, offering a range of financial solutions geared towards the unique needs of cannabis businesses. With more than a decade of experience, Safe Harbor has helped hundreds of clients navigate the complex sea of regulations imposed at the state and federal level.
The launch of the mutual referral program enhances the company's library of financial solutions. Würk leverages nearly a decade of experience to develop solutions that improve recruiting, human resources, scheduling, timekeeping, payroll, and retirement planning. To learn more about how Würk is helping companies identify compliant financial services, please visit https://enjoywurk.com/.
About Würk
Würk allows cannabis companies to manage payroll, human resources, timekeeping, scheduling, and tax compliance and minimizes compliance risks in the ever-changing cannabis regulatory environment. The company uses its expertise and trusted partnerships to provide guidance on 280E tax law, accounting, and compliant banking. Its platform is designed to scale nationally with the industry's growth while incorporating the local laws and regulations unique to individual states. For more information, visit https://enjoywurk.com/.
About Safe Harbor:
Safe Harbor is among the first service providers to offer compliance, monitoring and validation services to financial institutions that provide traditional banking services to cannabis, hemp, CBD and ancillary operators, making communities safer, driving growth in local economies and fostering long-term partnerships. Safe Harbor, through its financial institution clients, implements high standards of accountability, transparency, monitoring, reporting and risk mitigation measures while meeting Bank Secrecy Act obligations in line with FinCEN guidance on cannabis-related businesses. Over the past decade, Safe Harbor has facilitated more than
Cautionary Statement Regarding Forward-Looking Statements:
Certain information contained in this press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included herein may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Forward-looking statements may include, but are not limited to, statements with respect to trends in the cannabis industry, including proposed changes in U.S and state laws, rules, regulations and guidance relating to Safe Harbor’s services; Safe Harbor’s growth prospects and Safe Harbor’s market size; Safe Harbor’s projected financial and operational performance, including relative to its competitors and historical performance; success or viability of new product and service offerings Safe Harbor may introduce in the future; the impact volatility in the capital markets, which may adversely affect the price of Safe Harbor’s securities; the outcome of any legal proceedings that have been or may be brought by or against Safe Harbor; and other statements regarding Safe Harbor’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “outlook,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Safe Harbor’s filings with the U.S. Securities and Exchange Commission. Safe Harbor undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Safe Harbor Investor Relations Contact:
Mike Regan, Head of Safe Harbor Investor Relations
ir@SHFinancial.org
Safe Harbor Media Relations Contact:
Ellen Mellody
570-209-2947
safeharbor@kcsa.com
Wurk Media Contact
MATTIO Communications
wurk@mattio.com
1 Safe Harbor is not a bank, but works through financial institution partners to provide compliant financial services and credit facilities tailored to the cannabis industry.
FAQ
What are the key benefits of the Safe Harbor Financial (SHFS) and Würk partnership for cannabis businesses?
How many cannabis businesses reported banking access as their main challenge in 2023?
Is the referral partnership between Safe Harbor (SHFS) and Würk exclusive?
What specific services will cannabis businesses gain access to through this partnership?
