SOL Global Announces Investment in Cannabis Data and Compliance Solutions Company Fyllo
SOL Global Leads $30M Series B Round for Enterprise Technology Platform
March 30, 2021 08:45 PM Eastern Daylight Time
TORONTO, April 6, 2021 – SOL Global Investments Corp. (“SOL Global” or the “Company”) (CSE: SOL) (OTCPK: SOLCF) (Frankfurt: 9SB) is pleased to announce that it has completed an investment in Fyllo, the leader in digital marketing and compliance solutions technology for highly regulated industries, as part of the close of Fyllo’s USD$30 million Series B round, co-led by SOL Global and JW Asset Management.
SOL Global invested USD$4 million in Fyllo as part of the Series B round. The Company had previously invested USD$600,000 in earlier funding rounds.
Fyllo operates the Fyllo Compliance Cloud, a suite of software and services built to overcome the complexities of highly regulated industries. The company delivers data, media, retail and regulatory solutions that enable organizations and multi-state operators to streamline compliance, increase efficiencies, and scale with speed. Mainstream brands also seek out Fyllo’s Data Marketplace to target previously inaccessible cannabis and CBD consumers. Fyllo’s suite of services includes its recently acquired CannaRegs, a regulatory compliance tool for the cannabis industry, and DataOwl, a retail marketing and point-of-sale solution. The company has raised nearly $60 million since its launch in 2019, and its software is used by some of the country’s largest multi-state operators and global mainstream brands.
“Fyllo has truly built an innovative platform that can help drive cannabis businesses and other highly-regulated businesses forward, and SOL Global is proud to have co-led the company’s Series B round,” said SOL Global CEO Andy DeFrancesco.
Other participants in the Series B round included K2, Entourage Effect Capital, George Steinbrenner IV, Arcadian Capital Management, Salveo Capital, and 2 NRP Managers, LLC.
For more information on Fyllo and its Compliance Cloud suite of SaaS products, please visit www.hellofyllo.com.