Safe Harbor Acquires Founders and Assets of 420 IT Solutions
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 23 2025
0mins
SHF Holdings announced the strategic hiring of the founders of 420 IT Solutions, a leading cannabis-focused consulting and managed services firm serving financial institutions and cannabis operators, along with the integration of 420 IT Solutions' core operating assets and active client contracts into Safe Harbor's platform. 420 IT Solutions co-founders Frank Salluce and David Smokler have joined Safe Harbor and will lead and scale the Company's expanded Consulting and Managed Services division. As part of the transaction, Safe Harbor has acquired 420 IT Solutions' operating assets, including existing client contracts, brand and trademarks, proprietary advisory frameworks, and related digital and operational assets focused on regulated banking environments. Acquisition consideration is fully performance-based, as it is comprised of up to 125,000 of the Company's shares that are issuable only upon the achievement of incremental revenue milestones of $5M in 2026 or $6M in 2027.
Get Free Real-Time Notifications for Any Stock
Monitor tickers like SHFS with instant alerts to capture every critical market movement.
Sign up for free to build your custom watchlist and receive professional-grade stock notifications.
Analyst Views on SHFS
About SHFS
SHF Holdings, Inc. is a service provider to offer compliance, monitoring and validation services to financial institutions, providing traditional banking services to cannabis, hemp, CBD, and ancillary operators. Its services include regulatory compliance consulting and software for maintaining Know Your Customer (KYC) and Bank Secrecy Act compliance to financial institutions, principally conducted vis-a-vis its proprietary financial services platform and the origination, onboarding, verification, and servicing of cannabis-related deposit business for and on behalf of its partner financial institutions. Its services also include sourcing, underwriting, servicing, and administering loans issued to cannabis businesses and related entities, which are often also its customers and being customers of its partner financial institutions. Through the Company’s platform, its financial institution clients can provide cannabis-related businesses (CRBs) with access to traditional financial services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Safe Harbor Expands Payment Solutions Portfolio
- Payment Solutions Expansion: Safe Harbor enhances its payment solutions portfolio through partnerships with Lüt and GreenCard, introducing ACH debit, cashless ATM, and closed-loop payment systems, thereby improving customer payment flexibility and reliability in the cannabis sector.
- Closed-Loop Payment Innovation: Lüt's closed-loop payment system ensures continuous fund flow, particularly during high-traffic periods, helping operators avoid processing downtime while enhancing customer shopping experience and loyalty.
- Integrated Payment Infrastructure: Greencard delivers end-to-end payment infrastructure for vertically integrated cannabis operations, unifying retail, delivery, and e-commerce transactions, significantly improving fund settlement efficiency and enabling faster cash turnover for operators.
- Risk Management Support: Safe Harbor's payment solutions enhance client flexibility and continuity by offering multiple independent payment options, ensuring cannabis businesses are no longer reliant on a single payment channel amidst systemic challenges.
Continue Reading
Safe Harbor Expands Leadership Team to Enhance Cannabis Financial Services
- Executive Additions: Safe Harbor has appointed Stephen La Rosa as Senior Vice President of Lending Strategy and Cassandra Douglass as Senior Manager of Client Experience, aimed at enhancing the company's financial service capabilities in the cannabis sector.
- Strategic Investment: The addition of these executives represents a proactive investment by Safe Harbor to meet the full financial lifecycle needs of cannabis operators, reinforcing the company's long-standing commitment to compliance, transparency, and innovation.
- Market Positioning: La Rosa stated that Safe Harbor aims to redefine how cannabis operators access capital by expanding beyond traditional banking channels through private equity and institutional partnerships, adapting to rapidly changing market demands.
- Compliance and Client Relations: Douglass will leverage her extensive experience in compliance and client relationship management to enhance the efficiency of client onboarding and compliance processes, addressing increasingly complex client needs.
Continue Reading