SaaS based billing platform ChargeBee secures $350k from international investors
ChargeBee, a SaaS and retail based subscription billing solution, which provides small and emerging businesses to automate the entire billing process to run subscription services, has raised $350,000 from undisclosed international angel investors.
The Chennai based company would utilize funds to unveil a slew of new features, invest in operations and to expand across verticals which includes SaaS, digital media and retail subscription commerce.
Demoed at UnPluggd 5th edition,ChargeBee gets most of its users from global market with major base in US and Singapore. The company offers some extra benefits to its merchants based abroad, which could not be done in India due to RBI’s regulation.
As of now, ChargeBee has acquired more than 100 private beta users, out of which 11 of them have gone live with its billing system. Speaking to NextBigWhat about company’s consumer distribution across geographies, Krish Subramanian, co-founder and CEO, ChargeBee said “All our customers have global focus. Most of our beta customers are from US, UK and Australia and only 3 clients from India are powered by us”.
ChargeBee delivers a seamless solution for subscription businesses globally, where they can store credit card and charge the card based on usage automatically month-on-month. The retry management feature of ChargeBee helps reduce churn due to soft errors in credit card like expiring cards, credit limit exceeded etc.
Launched in July this year, currently ChargeBee has teamsize of 10 employees and plans to focus on scaling customer base in SaaS, digital media and retail commerce. “We will be launching more integrations and verticalized features addressing these verticals” added Subramanian .