Cherry, a New York-based provider of solutions to automate accounting and transaction processes, raised $4M in Seed funding.
The round was led by NFX.
The company intends to use the funds to scale its team and onboard thousands of customers that are waiting to use its platform.
Led by CEO Moshe Teitelbaum, Cherry enables businesses to automate accounting and transaction processes. Its platform works with all banks and payment types (e.g. checks, ACH, EFT, bank wires, and credit and debit card payments), and is compatible with more than a dozen accounting applications including Quickbooks, Sage Intacct, Yardi, Netsuite, Workday, AppFolio, SAP, Acumatica, RentManeger, and others. Since launching in February 2021, the platform has processed more than 100,000 transactions worth $350 million. The company has seen early success with nursing homes, independent healthcare facilities, and real estate management firms due to their complicated management, compliance, and legal structures.
FinSMEs
10/11/2022