What Spendr does

Spendr, Inc. is a Cincinnati, Ohio-based fintech operating a cashless payments and rewards platform purpose-built for licensed cannabis dispensaries. Founded in 2021, the company operates two interconnected products: a consumer mobile app (iOS and Android) and a merchant platform consisting of a POS app, a CRM/analytics dashboard, and promotional tooling. Transactions settle via Same Day ACH on federally compliant rails consistent with 2014 FinCEN guidance, bypassing the Mastercard and Visa card networks that decline cannabis merchants. Bank linking is provided through a Plaid integration, and the merchant side is supported by direct sales, hands-on onboarding, and physical in-store assets such as QR-code stickers and promotional cards.

Spendr's core product is a QR-code-based cashless payment flow that allows consumers to pay dispensaries directly from a linked bank account. When QR scanning is not feasible, merchants can push a payment request to the customer's phone number. The consumer app also stores state IDs and medical cannabis cards for faster checkout, surfaces personalized weekly deals from recently visited dispensaries, and runs a Spendr-funded rewards program offering up to $25 in sign-up and milestone bonuses plus seasonal giveaways. The merchant platform adds a CRM dashboard, retention marketing, end-of-day reconciliation, and Spendr Deals — a built-in re-engagement channel that lets dispensaries highlight promotions to recent buyers.

The business model is a transaction-fee take rate charged to dispensaries; the app is free for consumers and rewards are funded by Spendr rather than by merchants. Spendr generates revenue entirely from B2B fees on the volume processed between consumers and dispensaries. As of early 2025, the company had raised $2.7 million in seed funding and operated in Ohio, Michigan, Illinois, and Massachusetts, with announced plans to expand significantly during 2025. Key partners include Plaid (core bank-linking infrastructure), Cannabist Company (multi-state channel partner), and Green Check Verified (compliance services referral). The company is led by founder and CEO Lucas Gould.

Name

Spendr

Legal name

Spendr, INC.

Website

https://spendr.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Spendr is a Cincinnati-based fintech operating a cashless ACH payments and rewards app for licensed cannabis dispensaries and their consumers, using QR-code and push-payment flows to bypass card network restrictions across Ohio, Michigan, Illinois, and Massachusetts.

Ownership category

akta.pro rank

Product category

Cannabis Payment Processing

akta.pro primary industry

Merchant / Closed-Loop Wallets (Retail & Marketplace) (FSAMAEAF)

akta.pro secondary industry

Price Comparison, Deals, Cashback & Loyalty Shopping Platforms (BPAMAGAH)

Keywords

• Cannabis payment processing
• Cashless ACH payments
• Dispensary merchant services
• Digital wallet rewards
• Loyalty marketing platform

Headquarters

HQ city

Cincinnati

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Dispensary Transaction Fees / Take Rate: Spendr charges dispensaries a fee per transaction processed through the platform. The platform's revenue is generated from the take rate on transactions between consumers and dispensaries, with the company funding rewards out of these fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels9 records

Core offering

Spendr operates a cashless payments and rewards platform built specifically for the cannabis industry. The consumer side is a mobile app that lets users pay at dispensaries via QR code or phone-number push payment from a bank-linked digital wallet, while earning Spendr-funded rewards and accessing personalized deals. The merchant side is a platform that gives dispensaries compliant ACH payment acceptance, a POS app, a CRM dashboard, retention marketing tools, and end-of-day reconciliation.

Product overview

Spendr is a cannabis-focused fintech platform comprising two interconnected products: the Spendr App (consumer mobile application) and the Spendr Business/Merchant Platform (dispensary management tools). The consumer app enables QR code-based payments, bank account deposits, rewards earning, and deal discovery at participating dispensaries. The merchant platform provides dispensaries with payment processing, customer loyalty management via the Spendr Rewards Program, retention marketing through Spendr Deals, a merchant dashboard with CRM and analytics, and a POS app for transaction processing. The platform processes payments via ACH bank-to-bank transfers, bypassing traditional card networks restricted for cannabis transactions.

Differentiator

Problem solved

Functional benefit

Products and services

• Spendr Consumer App Free mobile application for cannabis consumers (21+ and medical patients) that enables cashless QR-code and push-payment purchases at participating dispensaries from a bank-linked digital wallet. Includes ID and medical card storage, rewards tracking, and a weekly personalized deals tab surfacing offers from recently visited retailers.
• Spendr Business / Merchant Platform Platform for licensed cannabis dispensaries providing compliant ACH cashless payment acceptance, QR-code and push-payment processing, a merchant POS app with PIN-authenticated clerk access, CRM dashboard with customer insights and analytics, retention marketing tools, and end-of-day reconciliation. Sold to dispensaries under contract/MSA with hands-on onboarding and in-store launch support.

Quantifiable outcome

• 22% average increase in transaction value for dispensary partners
• +4 more outcomes

Named customers9 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature8 records

Partnerships

Three partnerships are on record, tiered minor and core.

• Green Check VerifiedminorStrategic or Co-development PartnerGreen Check Verified is referenced as a partner for compliance support for cannabis dispensaries. The Spendr business page states 'Need help beyond payments, loyalty and marketing? Green Check has you covered,' linking to greencheckverified.com/marketplace. This appears to be a referral/co-marketing relationship where Spendr directs dispensary clients to Green Check for compliance services.
• PlaidcoreTechnology or IntegrationSpendr uses Plaid for secure bank account linking. Plaid's double-encrypted security is referenced as an additional layer when users connect their business bank account to the Spendr Wallet. Plaid enables the ACH deposit functionality that underpins Spendr's core payment infrastructure.
• Cannabist CompanycoreChannel Partner/ Reseller/ DistributorThe Cannabist Company is a multi-state cannabis operator that accepts Spendr payments at its dispensary locations including Cannabist Chicago (IL) and Cannabist Lowell (MA). The Cannabist Company is featured in Spendr's merchant logo section and store locator.

Scale indicators1 record

Recent moves7 records

Expansion highlights6 records

Direct peers

• Blaze: Blaze is a cannabis-focused POS and payments platform; its integrated payment offerings make it a direct competitor for dispensary wallet and processing share.
• POSaBIT: POSaBIT combines a cannabis POS with proprietary cashless payment processing, competing with Spendr both on merchant tooling and on payment acceptance.
• Hypur: Hypur delivers bank-direct cashless payments for cannabis merchants, overlapping Spendr on core ACH payment processing and dispensary compliance workflows.
• CanPay: CanPay is a direct competitor offering a debit-based cashless payment app for cannabis dispensaries, operating on similar compliance-aware rails and competing head-to-head for the same merchant and consumer relationships.
• Aeropay: Aeropay provides ACH-based cashless payment solutions for cannabis and other restricted-use verticals, making it a closely matched direct peer on both payment rails and target merchant profile.
• Dutchie Pay: Dutchie's integrated payments offering competes directly with Spendr at the dispensary point of sale, bundling payments into a larger cannabis commerce and POS stack.

Emerging players

• Treez: Treez provides cannabis retail POS and commerce software; while primarily a software provider, its payments-adjacent features make it a credible emerging competitor in the dispensary payments stack.
• SpringBig: SpringBig specializes in cannabis customer loyalty and marketing — overlapping directly with Spendr Deals and the Spendr Rewards Program at the dispensary retention layer.
• Flowhub: Flowhub is a cannabis POS and seed-to-sale platform; its merchant relationships and emerging payment integrations position it as an emerging payments competitor.

Broad incumbents

• Dutchie: Dutchie is the dominant cannabis e-commerce and POS incumbent; while its payments business (Dutchie Pay) is the direct comparison, the broader platform bundles ordering, marketing, and compliance that compete with Spendr's merchant value proposition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/getspendr
• YouTubeyoutube.com/@GetSpendr/featured
• Facebookfacebook.com/getspendr
• LinkedInlinkedin.com/company/getspendr

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Spendr