Churpy provides integrated receivables management solutions focused on modernizing account receivable finance operations in Africa. The platform automates invoice reconciliation by connecting bank data with ERP systems and offers electronic invoice presentment for flexible debtor payments. This service helps businesses reduce Days Sales Outstanding (DSO) and optimizes working capital financing through bank partnerships.
Funding
$1.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
NBRUGFounders
Product
Problem
Many businesses in Africa face challenges in managing account receivables due to manual reconciliation processes between outstanding invoices and incoming bank payments. This leads to inefficiencies in tracking payments, increased days sales outstanding (DSO), and limited visibility into real-time cash flow. Harmonizing multiple bank transactions into ERP systems is also a complex and time-consuming task.
Solution
Churpy offers an integrated receivables management solution that automates the reconciliation of outstanding invoices with incoming bank payments. By connecting to a business's bank and ERP systems, Churpy automatically reconciles invoices against payments and harmonizes multiple bank transactions into the ERP in real-time. The platform also digitizes invoice presentment, allowing debtors to track and pay invoices partially or fully. Churpy provides businesses with self-service dashboards to track account balances in real-time, generate debtor insights, and perform credit analytics.
Target Audience
Churpy primarily targets businesses in Africa that are seeking to modernize their account receivable finance operations and reduce DSO.
Features
- Automated reconciliation of outstanding invoices against incoming bank payments
- Real-time harmonization of multiple bank transactions into ERP systems
- Digital invoice presentment and payment platform for debtors
- Virtual accounts to consolidate debtor payments from multiple channels into one bank account
- Self-service dashboards for real-time account balance tracking, debtor insights, and credit analytics
- Integration with various ERP systems, including SAP B1, Oracle Netsuite, Sage, Quickbooks, Microsoft Dynamics, and Xero
- APIs for receiving bank statements, payment notifications, and balances
- Plugins for ERP integration to automate receivables reconciliation
- Payment APIs for collecting receivables through bank account channels