US-based AR automation provider DadeSystems has raised a USD 9 million Series D growth funding to grow its suite of solutions, collectively referred to as DadePay.
The round was led by Napier Park Financial Partners, with participation from returning investors Fifth Third Capital Holdings and Ocean Azul Partners. Founded in 2011 by Dave Wilson, the Miami, Florida-based DadeSystems is a provider of Cash Application solutions to fully automate the complex payment processing landscape. Its flagship product, DadePay, is a SaaS based solution that helps medium-to-large corporations and financial institutions aggregate, analyze and reconcile remittances for any payment type, from any payment channel. DadePay helps to automate the invoice-to-cash application process for any payment through any channel.
DadePay Cash Application automatically captures all incoming payments, including cash, checks, ACH, EFT, and credit cards. Using patented algorithms, payments are automatically matched to open invoices which updates your ERP system and electronically deposits the checks at your bank(s). The DadePay suite also includes our DadePay Customer ePayment portal and DadePay Mobile.
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