CLR Interview: Mark Lozzi, CEO of Confia

CANNANNEW REPORT

We speak with Mark Lozzi the CEO of cannabis financial solutions company Confia who tell us on their website.. Confia enables cannabis supply chains to flow efficiently. .We provide free electronic payments within-network, powerful integrated banking capabilities, and automated compliance.   But, as they say, the devil is in the detail so we posed a number of questions to Mark about the company and what it does.   First up Mark, a little bit of information about yourself and your background. Could you provide detail about your last startup and what attracted you to the regulated cannabis industry? I started my professional career in finance, at an investment banking firm but quickly launched my own venture capital fund. I am not risk-averse by nature, and my ambitions to be a VC quickly migrated to wanting to be a technology entrepreneur. My last venture was also with my current co-founder Dan Adamson, and we developed and commercialized regulatory technology for the high-risk banking segment. Our technology leveraged high-tech capabilities like AI, machine learning, and natural language processing, and supported the automation of know your client (KYC) processes for high-risk clients at some of the world’s largest banks. Our product began to spread into new sectors, like investment banking, lending, private equity, and more fintech-suited applications. Due to the nature of our business, we were able to walk away with expertise in financial service compliance. So when it was time to consider a new venture, we tried to identify an industry overlapping 4 key concepts; highly regulated, fintech, payments, and banking. These are the exact pain points in cannabis, and at that point, the writing was on the wall. We wanted to disrupt the most emerging, complex market in the world – and Confia was born.    Mark Lozzi   So… could…

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