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Founded in 2019, Cherry is a California-based provider of point-of-sale financing. The company’s financial solution and associated technology tool is tailored to the needs of small and medium-sized businesses. Cherry originates consumer loans through their growing community of merchant partners and focuses mostly on businesses that provide physical products or services offline, mitigating the risk of fraud. Cherry’s technology allows merchants to offer customers promotional financing options and capture larger ticket size sales with higher conversion rates. Customers value the ability to break down expenses into equal monthly installments, as well as the seamless non-intrusive onboarding process.
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