EIN Presswire | January 26, 2022
PayQwick announced today the appointment of Jeanne M. Sullivan to the board of directors, adding a cannabis and technology innovator, investor, and advisor with a track record of guiding dozens of successful companies. Ms. Sullivan is a pioneer in the cannabis industry, co-founding the Arcview Collective Fund, and is the Chief Investment Officer of Arcview Ventures. Sullivan has been part of the cannabis industry and the Arcview team since 2014 and helps educate and finance the emerging cannabis industry and its entrepreneurs. As PayQwick extends its cannabis compliance, payments, and banking technology to financial institutions and license owners, Ms. Sullivan’s experience and leadership help make PayQwick’s platform a standard for cannabis operators and for the banks and credit unions that seek to serve them.
Since 2015, PayQwick has provided “best-in-class” compliant treasury and payment solutions for cannabis businesses across the supply chain. The Company offers one centralized banking solution across many states, including receivables management, bill pay, electronic payments, real-time settlements, escrow services, cash pick up along with robust reporting through its proprietary platform. Ms. Sullivan is instrumental in building new relationships, attracting experienced teams, and raising capital from fintech and cannabis investors. Her term will begin in accordance with regulatory protocols.
“I am excited to add such a revered industry pioneer to PayQwick’s board,” said Bob Craig, CEO. “Jeanne has the unique combination of cannabis industry experience paired with her many years guiding, investing in, and helping innovative companies succeed as a venture capitalist. With cannabis banking evolving at the state and federal level, Jeanne helps PayQwick unite the cannabis business community to PayQwick’s programs for banks and credit unions.”
Joe Proto, fintech executive, serial entrepreneur, and PayQwick Board member adds: “I’ve worked with Jeanne for more than 15 years as co-investor, advisor, and colleague as a portfolio company CEO that we successfully built and sold to Mastercard in 2019. Jeanne is a brilliant leader who inspires with her unbounded energy and creativity .”
“The PayQwick team has created an impressive financial services platform with the right combination of product features, flexibility, and tight regulatory compliance, now serving over 1000 licensees in the cannabis industry,” says Sullivan. “The cannabis industry has struggled since its inception seeking ‘best practices’ banking products and services which are readily available to other industries. The PayQwick integrated suite of products and services helps fill that gap. With or without SAFE banking laws, PayQwick will continue to serve cannabis license owners, brands, banks and credit unions. State and federal regulators have yet to provide comprehensive guidance. PayQwick allows banks and credit unions to build scale to safely and compliantly serve cannabis operators in their communities. I am pleased to support Bob Craig and the PayQwick team of experienced banking leaders as they have developed these critical solutions to serve the financial needs of our exciting and growing industry.”
About Jeanne M. Sullivan
Jeanne has been a member of the Arcview team for several years, a twelve-year-old company that saw, before most, that investors would want to convene and meet dynamic cannabis business owners and entrepreneurs. Jeanne is an investor, advisor, and sought-after speaker in the cannabis sector leveraging 25 years of tech investing. She is the Chief Investment Officer of Arcview Ventures and co-founder of the Arcview Collective Fund. Formerly, Sullivan was a General Partner and co-founder of a NYC-based venture capital fund with $400 million under management.
Jeanne has been a Women’s Leadership Board member at the Harvard Kennedy School and is an Athena Entrepreneur Fellow for Barnard College. She also serves on the Global Board of Trustees of Astia, funding high-growth women entrepreneurs. Forbes cited Sullivan as “one of the women VCs changing the world. The New York Hall of Science honored Jeanne for her work inspiring girls and women in science, technology (STEM) sectors. Jeanne also served on its Board of Trustees for many years.
The PayQwick Financial Network connects banks and businesses to accelerate growth. PayQwick provides compliant and reliable treasury and payment solutions for cannabis businesses and the financial institutions that serve them. Our platform offers a full suite of services to streamline financial operations, from cash pickups and receivables management to bill pay and electronic payments across the supply chain. Based in Los Angeles, California, PayQwick has been recognized in the LA Business Journal’s Best Places to Work in 2020.