Waitr Holdings (NASDAQ: WTRH) shares are rallying on Friday after the on-demand food ordering and delivery company said it has agreed to a partnership with Flow Payments to create a compliant marketplace, delivery and payment solution for dispensaries selling cannabis.
The partnership will consist of Waitr’s proprietary delivery technology and assets, in conjunction with Flow Payments’ access to specific partnerships and corresponding payment processing solutions.
The companies will create a specialised platform to facilitate the sale and delivery of cannabis.
“This opportunity with Flow Payments is just another way we are pivoting the company into new verticals with specialized integrated payment and delivery solutions,” said Carl Grimstad, CEO and Chairman of the Board of Waitr.
“As the regulatory framework around the cannabis industry within the United States continues to evolve, we see this as a natural step in our own evolution and ability to continue bringing value to our shareholders,” added Grimstad.
Waitr‘s share price is currently up over 13% at $3.40 following Thursday evenings announcement.