Chargebee raises Rs 403 crore in funding led by Insight Partners – ETtech

Illustration: Rahul Awasthi

Chargebee has raised Rs 403 crore ($55 million) in its Collection F funding spherical, led by Perception Companions.

The present spherical, the most important to date by the subscription billing startup, comes at a time when brick and mortar corporations are adopting subscription fashions of their companies, following the Covid-19 pandemic.

Present traders Tiger World and Steadview Capital additionally participated within the funding spherical, bringing the whole funding raised by the Chennai-based firm to date to Rs 771 crore ($105 million).

The corporate will make investments the cash to enhance its platform and develop new options to cater to corporations with more and more advanced income fashions.

Chargebee introduced a Collection D fundraise of Rs 102 crore ($14 million) led by Steadview Capital in August final 12 months. It additionally raised an undisclosed Collection E spherical earlier in Might.

Based as a bootstrapped Software program as a Service startup in 2011, Chargebee’s platform is at the moment utilized by over 2,500 corporations.

The platform automates billing and income operations which can be required by subscription-based companies. Practo and Freshworks are amongst its India purchasers.

The corporate has additionally seen conventional companies throughout Europe, United States and India signing up for on-line subscription administration through the pandemic. Chargebee stated that it has processed over $three billion in income to date.

“We consider {that a} regular SaaS-i-fication of the market is already underway, with conventional companies replicating the very best practices of SaaS pricing and enterprise fashions even exterior the realm of software program. Subscription companies at present should be prepared always to establish and leverage market alternatives quickly,” stated Krish Subramanian, co-founder and CEO of Chargebee.

Subscription billing-based product startups and companies have additionally gained traction in India in the previous few months.

Reliance Industries’ JioMart final week introduced the launch of app-based milk subscription in numerous components of the nation.

AJ Malhotra, vp of Perception Companions, stated, “Even past SaaS and software program, we’re seeing a world motion the place companies from automobiles to espresso pods are launching and scaling with a subscription-first mannequin. The necessity for an underlying income platform that permits companies this diploma of adaptability is paramount at present.”

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