DadeSystem, a U.S.-based fintech that provides integrated receivable solutions, announced on Wednesday it secured an additional investment from Wells Fargo Strategic Capital, a subsidiary of Wells Fargo & Company, through its Series D funding round. Founded in 2011, DadeSystem claims to be a leading provider of cash application solutions to fully automate “the complex’ payment processing landscape. Its products include:
- DadePay: a SaaS based solution that automates invoice-to-cash process for any payment through any channel.
- DadePay ePayment Customer Portal: Allows customers to review open invoices and make or schedule payments by ACH or credit card.
- DadePay mobile: Allows sales and delivery drivers to take pictures of checks and remittances and electronically transmits those images to AR Automation for immediate processing.
The company further noted:
“DadeSystems serves multiple industries including distribution, food and beverage, manufacturing, financial, transportation, wholesale, property management, healthcare, retail, travel and agriculture.”
The funds from the Series D round will be used to support the growth of DadeSystems’ suite of technology solutions. Speaking about the investment, Tom Richardson, Managing Director for Wells Fargo Strategic Capital
“DadeSystems has developed a uniquely simplified process for managing account receivables by leveraging advanced data management and machine learning technologies. We are pleased to provide them with this investment and support during an important stage of their lifecycle.”
Bill Zayas, President and CEO of DadeSystems, added:
“Wells Fargo Strategic Capital is one of the leaders in providing capital to growing fintech companies. This investment will support the ongoing growth of the company, expand DadeSystems’ suite of technology solutions, and allow us to continue to invest in our technology and improve efficiencies for businesses.”
The round’s total amount raised has not been disclosed at this time.