PCM vol. 3 Issue 9

STARTUP SPOTLIGHT
Nichole Montoya,
Co-Founder & CEO of Cheddar Up
“CHEDDAR UP IS REINVENTING
HOW ORGANIZERS COLLECT. THE
PLATFORM HELPS HUNDREDS
OF THOUSANDS OF ORGANIZERS
MOVE AWAY FROM PAPER AND
CLUNKY TOOLS AND OFFERS
A LOW-COST, USER-FRIENDLY
PLATFORM TO MOVE ONLINE,
MANAGE COLLECTIONS, AND
SAVE TIME. ”
Collecting money from a group of friends for joint gifts,
trips, or dinners is usually a trying experience. In
almost every case, someone needs change for a large
bill, someone claims he’s already paid his portion of
the tab, and someone asks if he can pay at a later date. We talk
to Nichole Monoya, co-founder & CEO of Cheddar Up which is
a web-based tool that simplifies the process of settling group
payments without relying on cash or checks.
PCM: Tell us about Cheddar Up. How did this idea come
to be?
Nichole: Cheddar Up was born out of the need for an
organizational, payment-focused toolset. I was looking for
a payments-forward, evite-like tool, but it didn’t exist. I was
writing a lot of checks and filling out a lot of paper forms, and
it was slowing me down. And I was just on the paying side
of it. I imagined being the organizer – who was receiving all
those checks and paper forms – and quickly understood the
administrative burden of it all that needed to be solved.
I studied the market and surveyed my peer group and they all
had the same challenges. So we set about creating and growing
Cheddar Up.
PCM: Why is it called Cheddar Up?
Nichole: Our name is sort of a play on words. “Cheddar” is a
slang term for money, and the concept of settling “up” refers
to paying someone. The combination of those two combined
created a brand that we felt was just playful enough to solve
this universal problem. It’s a light-hearted name and brand
that takes the once cumbersome task of collecting from many
people – and makes it easy and approachable. It’s also a brand
that can appeal to just about any demographic or use case.
PCM: Why is Cheddar Up needed?
Nichole: Cheddar Up helps organizers simplify collecting. An
“organizer” can be just about anyone – PTA volunteer, booster
club president, HOA treasurer, team parent, direct seller…the
list goes on. But they typically have a few things in common.
They need a tool that:
• Can accommodate changing and ongoing collecting needs
• Can be easily handed off to the next person taking over
• Can centralize and organize payments and information
from many people (avoiding payments coming at them via
many different payment methods)
PCM: What makes Cheddar Up different?
Nichole: Many things make Cheddar Up different. In addition
to payments and forms, one-stop track-ing, and easy start and
handoff…Cheddar Up has low fees and anyone can pay on
Cheddar Up WITHOUT having to download an app or become
a registered user. We’ve eliminated all barriers to entry for
both organizers and payers.
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