Chargebee, which helps businesses set up and manage their billing, subscription, revenue operations and compliance, recently announced it has raised $55 million in a new financing round as it looks to accelerate its expansion in global markets.
The new financing round, a Series F, for the San Francisco and Chennai-based firm, was led by Insight Partners, with existing investors Steadview Capital and Tiger Global participating. The nine-year-old startup, which kickstarted its journey in India, has raised $105 million to date.
Chargebee allows individuals, small businesses and enterprises to automate subscriptions, billing, invoicing, payments and revenue recognition processes. It supports dozens of popular payment gateways, including Stripe, Braintree, WorldPay and PayPal, and its global tax management coverage also helps businesses to expand to new markets. The startup offers its services through a range of pricing schemes, including those that vary based on usage, and it is able to renew billing cycles based on sign-up dates or other specific parameters. It also can selectively route payments and currencies to predefined rules. On the back end, Chargebee customers get a visual organizational chart of their customers and can easily define payment and invoicing responsibilities.