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Cannabis payment processor attracts investment from Jay-Z

Denver-based payment processor Flowhub has raised nearly US$50 million ($62.1 million) since launching in 2015, including a personal investment from rapper turned cannabis entrepreneur, Shawn “Jay-Z” Carter.

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The most recent funding round attracted the attention of the iconic artist and upped the company’s valuation to more than US$200 million ($248 million).

Fowhub intends to use the funding to expand into emerging markets, further develop its product line and grow its social equity program.

“Jay-Z is a cultural and creative global force no matter the industry he is involved in,” said Kyle Sherman, founder and CEO of Flowhub. “I couldn’t think of a better group to

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