Chargebee, start-up that helps companies in billing, raises $55 mn

Chargebee, which helps businesses manage billing and revenue, has raised $55 million in a new financing round as it looks to expand in global markets, said the Chennai- and San Francisco-based start-up on Tuesday.

Insight Partners led the financing round, with existing investors Steadview Capital and Tiger Global joining in. The nine-year-old start-up has raised $105 million to date.

"We are committed to building the best billing infrastructure for Subscription Businesses. The last 6 months has been challenging for everyone and grateful to our team for the heads down execution. There is so much more to do and we are excited and committed to improving everyday," said Kris Subramanian, Cofounder & CEO of Chargebee.

Chargebee allows individuals, small businesses, and enterprises to automate subscriptions, billing, invoicing, payments and revenue recognition processes. It supports payment gateways like Stripe, Braintree, WorldPay, and PayPal.

Chargebee, which has offices in Amsterdam, Salt Lake City, and Sydney and customers in over 160 countries, plans to use the fresh capital to grow in international markets.