Safe Harbor Financial Surpasses $25 Billion in Cannabis-Related Funds as It Celebrates 10th Anniversary

Rhea-AI Summary

Safe Harbor Financial (NASDAQ: SHFS) has achieved a significant milestone by processing over $25 billion in cannabis-related funds through its partner bank network, coinciding with its 10th anniversary. Founded in 2015, the company has established itself as a pioneer in providing secure and compliant financial services for the regulated cannabis industry.

The company currently serves clients across nearly 40 states and US territories, offering comprehensive financial solutions designed specifically for cannabis businesses. CEO Sundie Seefried emphasized their founding mission of enhancing community safety through stable and compliant banking services for legal cannabis companies.

Safe Harbor's achievement demonstrates its strategic focus on scaling operations and expanding services while maintaining industry compliance standards. The milestone has been endorsed by industry players, including Mint Cannabis CEO Eivan Shahara, who highlighted Safe Harbor's important role in providing access to critical financial services while ensuring regulatory compliance.

Milestone Underscores the Company’s Leadership in Providing Reliable Financial Services, Credit Facilities and Innovative Solutions for the Regulated Cannabis Industry

GOLDEN, Colo., Jan. 16, 2025 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (“Safe Harbor” or the “Company”) (NASDAQ: SHFS), a trailblazer in providing secure and compliant financial services for the regulated cannabis industry, announced a significant achievement: surpassing $25 billion in processed cannabis-related funds through its trusted network of partner banks. This milestone aligns with the company's 10th anniversary, celebrating a decade of innovation, resilience, reliability and leadership in a complex industry where many have succumbed to regulatory scrutiny.

Sundie Seefried, CEO of Safe Harbor Financial said, “Our founding mission was to enhance community safety by providing a stable and compliant environment for legal cannabis companies. Reaching this threshold during our 10th anniversary is a landmark achievement that speaks to our unwavering commitment to supporting the cannabis industry with transparent, secure and scalable financial solutions. This milestone is not just a reflection of our success but also a testament to the trust our clients place in us and the passion and expertise of our team. Over the past decade, we’ve built an unparalleled platform that empowers cannabis businesses to thrive while setting new standards for compliance, accountability and innovation in the financial sector. I couldn’t be more proud of what we’ve accomplished and am excited about the opportunities ahead as we continue to drive the industry forward.”

Since its founding in 2015, Safe Harbor has led the charge in addressing the unique financial challenges faced by the cannabis sector. As one of the first financial institutions to design solutions specifically for cannabis businesses, Safe Harbor now serves clients across nearly 40 states and US territories, delivering a robust suite of financial products that enable businesses to operate with confidence in a heavily regulated environment.

“Safe Harbor Financial has been an essential partner in our journey,” said Eivan Shahara, co-founder and CEO of Mint Cannabis, a vertical multi-state operator headquartered in Arizona. “Their innovative approach to cannabis banking has enabled us to access critical financial services while maintaining full compliance with stringent state and federal regulations. As the industry grows and pushes for federal reform, Safe Harbor’s expertise and leadership are more important than ever. We’re proud to be part of their journey and look forward to achieving even greater success together.”

The Company’s $25 billion milestone reflects its strategic focus on scaling operations, expanding services and remaining at the forefront of industry innovation. With a proven track record of reliability and a deep commitment to fostering trust and compliance, Safe Harbor continues to solidify its position as the go-to financial partner for cannabis businesses.

About Safe Harbor
Safe Harbor is among the first service providers to offer compliance, monitoring and validation services to financial institutions, providing 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 $25 billion in deposit transactions for businesses with operations spanning nearly 40 states and US territories with regulated cannabis markets. For more information, visit www.shfinancial.org.

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; 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 may be instituted 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.

Contact Information
Safe Harbor Investor Relations
ir@SHFinancial.org

KCSA Strategic Communications
Ellen Mellody
safeharbor@kcsa.com

FAQ

How much in cannabis-related funds has Safe Harbor Financial (SHFS) processed as of January 2025?

Safe Harbor Financial has processed over $25 billion in cannabis-related funds through its network of partner banks.

How many states does Safe Harbor Financial (SHFS) currently serve?

Safe Harbor Financial serves clients across nearly 40 states and US territories.

When was Safe Harbor Financial (SHFS) founded?

Safe Harbor Financial was founded in 2015, marking its 10th anniversary in 2025.

What services does Safe Harbor Financial (SHFS) provide to the cannabis industry?

Safe Harbor Financial provides secure and compliant financial services, credit facilities, and innovative solutions specifically designed for the regulated cannabis industry.

How has Safe Harbor's (SHFS) milestone impacted its position in the cannabis banking industry?

The $25 billion milestone reinforces Safe Harbor's position as a leading financial partner for cannabis businesses, demonstrating its success in scaling operations and maintaining compliance standards.