Cherry
6 known investors
Cherry is a point-of-sale financing platform that enables healthcare practices to offer patients buy-now-pay-later payment plans with instant approval and competitive rates.
Also known as Cherry Technologies · withCherry
Founders & leadership
Investors · 6
Company profile
researched Aug 2026Cherry operates a point-of-sale financing platform for health and wellness providers, allowing practices to offer patients installment payment plans ("buy now, pay later") for treatments. Patients apply through a short consumer application — the company cites roughly 35 to 60 seconds — and receive an approval decision on the spot, while the practice is funded immediately upon approval. Cherry states an approval rate of approximately 90% (with older site copy citing 80%+) and says providers can save up to 50% on merchant fees relative to alternatives.
The platform is used across dental, medical aesthetics, plastic surgery, dermatology and veterinary practices, among other categories. Promotional structures include 0% APR offers for qualifying patients, including a six-month 0% APR program for select Allergan Aesthetics treatments offered at no cost to the provider (excluding Natrelle breast implants). Cherry's stated mission is to help health and wellness providers serve more people with convenient and cost-effective buy-now-pay-later, with a broader vision of helping any business grow through a wide range of payment options.
Founding story
Cherry was co-founded by Felix Steinmeyer, who serves as CEO, and Charles Mourani, who serves as CTO.
Business model
Cherry sits between health and wellness practices and their patients, originating consumer installment loans at the point of sale. Practices are funded immediately upon patient approval; the company markets merchant fees up to 50% lower than alternatives, and offers promotional 0% APR programs, including a six-month 0% APR offer on select Allergan Aesthetics treatments provided at no cost to the practice.
Merchant fees charged to participating practices on financed transactions, alongside consumer financing terms that range from 0% APR promotional plans to interest-bearing payment plans.
Traction
The company states it is trusted by 60,000 healthcare providers and reports a near-perfect customer satisfaction score across patients and practices.
▸Full profile — market position, technology, go-to-market, history
Market position
Cherry positions itself against incumbent patient-financing providers including CareCredit, Sunbit, PatientFi and GreenSky, and states that more than 80% of providers select it as their preferred financing partner and that providers choose it five times more often than those alternatives.
Speed and breadth of approval are the company's stated points of difference: an application of roughly 35–60 seconds, an approval rate cited at about 90%, immediate provider funding upon approval, lower merchant fees, and 0% APR options for qualifying patients.
Technology
A consumer-facing application and underwriting flow that returns an instant approval decision in under a minute, integrated into the practice's checkout so providers receive funding immediately upon approval.
Go-to-market
Direct sales to practices, including a booked product demo motion via the company's website, supported by provider and patient testimonials and partner promotional programs such as the Allergan Aesthetics 0% APR offer.
Health and wellness providers and their patients, spanning dental, medical aesthetics, plastic surgery, dermatology, veterinary and other practice categories, as well as the consumers financing treatments at those practices.
History
Cherry is led by co-founder and CEO Felix Steinmeyer and co-founder and CTO Charles Mourani, with an executive team that includes COO Sean Schroeder, Chief Revenue Officer Andy Cahoy and Chief Product Officer Pramod Thammaiah.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Competitors · 4
by search overlap
Companies competing with Cherry for the same Google search keywords, organic and paid, via search-intersection analysis.
In the news
Cherry Pie Make and Bake event raises money for Traverse Bay Children’s Advocacy Center9and10news.com · Jul 2026▸Research sources · 8
primary sources listed
- Cherrywithcherry.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Cherry do?
- Cherry provides point-of-sale patient financing that lets health and wellness practices offer buy-now-pay-later payment plans.
- Who founded Cherry?
- Cherry was founded by Felix Steinmeyer.
- Who are Cherry's investors?
- Cherry's investors include Abstract Ventures, Core Venture Capital, DCM Ventures, Village Global, Fin Capital, Inertia Ventures.