LeapAP
“Can a vertical AP automation platform for property management become the payments rail for HOA/condo vendor spend across North America?”
Founded2019
HQToronto, Ontario, Canada
FoundersErik Levinson, Braedon Hebert
Total raised$530K (disclosed seed)
Latest roundSeed
IndustryVertical SaaS / Real Estate
The story
Founded 2019 as CondoWorks, a niche AP automation tool for Ontario condo management. Expanded across Canada and the US into broader property management (HOA, commercial, residential) and rebranded to LeapAP in August 2024. The embedded finance angle is B2B AP payments — LeapAP moves money on behalf of property managers via its own Canadian MSB subsidiary CW Payments Inc., offering EFT/ACH, checks, and virtual card payouts to vendors.
Last 12 months
Product timeline
2019
Founded as CondoWorks to automate AP for Ontario condo management companies· founding
2020
Co-founder Braedon Hebert joins; expansion beyond Ontario condo market· expansion
2024
Rebranded from CondoWorks to LeapAP to reflect broader property management focus· pivot
2024
Announced Yardi Voyager integration, bringing count to 8 accounting/ERP integrations· product
Regulated entities
1
regulatory licence held by LeapAP
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
3 layers disclosed in LeapAP’s embedded-finance stack
Money movement
KYC
in the full report
Accounting
in the full report
Accounting gap: none
11 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.