Narrowport is a financial technology startup that is pioneering financial solutions that aim to make cash-intensive businesses safer - starting with cannabis. Because of recent violent incidents, the company has launched a new asset for the cannabis industry in Oregon, called the Safe Cash Handling Toolkit, which provides a free actionable checklist and guide for business owners and operators to create a safer working environment and help reduce risk for their staff. The Safe Cash Handling Toolkit provides over 100 points of actionable education and resources on topics like physical cash handling, office or in-store cash handling, cash transportation, and cash storage.
These Oregon-specialized resources include a separate offering of boots-on-the-ground training for cannabis operators who encounter a wide variety of risks when transacting in all cash. The accompanying workshop features a panel discussion with local cannabis business owners, security professionals, and legal experts.
CoFounder and CEO, Dominique Villela, was moved by a recent call with cannabis operators who were sharing their troubles in the industry:
"Cannabis operators have real war stories that underscore the urgent need for safer cash handling practices. Beyond the tech we're developing, we're stepping up to equip them today with knowledge and strategies until these cash-intensive industries can overcome these threats."
The call was on May 3, where over 70 cannabis brands (including Narrowport) joined online to voice their concerns at a recent town hall meeting hosted by Cannabis Industry Alliance of Oregon (formerly ORCA), featuring Senator Jeff Merkley prior to his testifying on the SAFE Banking Act. Cannabis operators expressed their eagerness for resources as they shared hardened stories, from theft of $250,000 in cash, to assault, and even the tragic death of a dispensary worker. The 30-minute online meeting offered a way for operators to submit forms to Merkley's staff, describing losses like these, though even Merkley expressed challenges he would encounter when addressing the Senate Banking Committee.