NABIS and CannaBIZ Collects Unite to Tackle Cannabis Debt Collections
Nabis, the leading licensed cannabis wholesale platform in the world’s largest legal market, today unveils an unrivaled partnership with CannaBIZ Collects, the foremost agency specializing in cannabis debt recovery. This strategic alliance signifies a pivotal moment in the cannabis industry, aimed at elevating the efficacy of third-party collection initiatives.
Recognizing the importance of financial stability and collection in the cannabis sector, Nabis is leading efforts in California to reduce the widespread accounts receivable (AR) issues through its strategic alliance with CannaBIZ Collects. This partnership is a testament to Nabis' commitment to promoting industry growth and supporting its brand partners and retailers as they navigate a dynamic and often challenging credit environment.
"We are dedicated to nurturing innovative partnerships that reinforce the supply chain of the greater cannabis industry, offering alternative specialized solutions to brands in a volatile market,” said Nabis' Co-Founder and Co-CEO, Vince C. Ning. “Our collaboration with CannaBIZ Collects will help us empower our partners to navigate financial challenges more effectively."
CannaBIZ Collects specializes in the intricacies of cannabis-related collections and has a deep understanding of the unique challenges faced by businesses in this industry. While Nabis has historically been able to successfully collect 95%+ of accounts receivable in their own platform, CannaBIZ Collects is able to employ more targeted collections efforts against specific vendors, negotiate settlements, and help partners pursue litigation with no upfront cost. With a strong track record of successfully recouping outstanding accounts, CannaBIZ Collects brings a wealth of expertise to this collaboration.
CannaBIZ Collects’ Managing Partner, Brett Gelfand, commented, “CannaBIZ Collects is thrilled to be part of the Nabis family. Collections have been plaguing California cannabis brands for years, and it's crucial that industry leaders such as Nabis work to tackle this problem face-on through our robust partnership."
By integrating CannaBIZ Collects as their preferred collection agency, Nabis is addressing the critical issue of past-due accounts and ensuring that their brand partners have access to expert support in recovering owed funds. Nabis takes the burden off their brand partners by seamlessly submitting past-due accounts to CannaBIZ Collects and working closely with its team to recover past-due payments. This strategic union underscores both entities' dedication to ensuring financial integrity while fostering sustainable growth within the industry.
Through this affiliation, Nabis and CannaBIZ Collects aim to set new standards in streamlined and proficient debt recovery processes, further solidifying their positions as frontrunners in the burgeoning cannabis market.
About Author: Brett Gelfand
Brett is an accomplished entrepreneur in the cannabis industry, with a talent for building successful brands and businesses. His career began in 2015 as CEO of a vertically integrated cannabis company in Colorado, where he gained extensive knowledge of the industry.
Later, Brett co-founded, PAQcase, a specialty child-resistant cannabis packaging business and served as CEO, successfully developing innovative packaging solutions that established the company as a leader in the space. His leadership and strategic vision were instrumental in achieving a successful exit in 2022.
Currently, as Managing Partner of CannaBIZ Collects, the nation’s first and leading cannabis collection agency, Brett leverages his expertise to help cannabis businesses navigate the complex legal and financial landscape related to credit and collections.
With a BBA in Finance from The University of Georgia, Brett brings a unique blend of business acumen and financial expertise to his work. Passionate about driving innovation in the industry, Brett continues to explore new opportunities and mentor aspiring entrepreneurs from his home base in St. Petersburg, FL.