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.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.