Chargebee Becomes a Unicorn by raising $125 million funding
By MYBRANDBOOK
The chennai based Chargebee Inc., a startup that helps enterprises with subscription billing and revenue management, raised $125 million in funding and boosted its valuation to $1.4 billion, reaching the unicorn status . Chargebee helps individuals, small and medium-sized businesses and enterprises set up, manage and automate subscriptions, billing, invoicing and payments. One of the key strengths of Chargebee is that it can help even large enterprises move to a subscription model within 10 days.
The investment will help the company to scale-up globally as customers hasten their shift to subscription-based services, The pandemic has accelerated the shift to software-as-a-service subscription models, says, Krish Subramanian, co-founder and chief executive officer, Chargebee.
Chargebee helps small and medium enterprises, from carmakers to cafe chains, automate billing, subscriptions, invoicing and payments in different geographies. Subscription models are increasingly popular as customers look for predictable, recurring revenue.
The pandemic has accelerated the shift to subscription-based billing, a market estimated to grow at 14% annually to $7.8 billion by 2025. It trend is helping the industry to implement subscription plans in different countries, roll out pricing experiments and partner with payment providers such as Stripe Inc. and PayPal Holdings Inc.
The startup’s offerings today are not limited to just billing. It also helps businesses plug revenue leakage, increase customer loyalty, expand into new categories with the backend ready and experiment with pricing plans - introducing and removing them within 30 minutes.
It supports over 100 currencies, and dozens of popular payment gateways, including Stripe, Braintree, WorldPay and PayPal, and its global tax management coverage also helps businesses expand to new markets. MakeSpace, an on-demand storage company, used Chargebee’s services to scale from four markets to 31 in one year, for instance.
The startup has amassed more than 3,000 customers, most of whom are based in the U.S. and Europe.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Icons Of India : Girish Mathrubootham
Girish Mathrubootham is the Founder of Freshworks (previously known ...
Icons Of India : PRATIVA MOHAPATRA
Prativa is a transformational leader with an incredible breadth of exp...
ICONS OF INDIA : RAJESH NAMBIAR
Rajesh leads the company’s India associates and enhances relationshi...
HPCL - Hindustan Petroleum Corporation Ltd.
HPCL is an integrated oil and gas company involved in refining, market...
EESL - Energy Efficiency Services Limited
EESL is uniquely positioned in India’s energy sector to address ener...
CSC - Common Service Centres
CSC initiative in India is a strategic cornerstone of the Digital Indi...
Indian Tech Talent Excelling The Tech World - Vinod Dham, Founder & Executive Managing Partner, IndoUS Venture Partners
Vinod Dham, known as the “Father of the Pentium Chip,” has left an...
Indian Tech Talent Excelling The Tech World - Aneel Bhusri, CEO, Workday
Aneel Bhusri, Co-Founder and Executive Chair at Workday, has been a le...
Indian Tech Talent Excelling The Tech World - AJAY BANGA, President - World Bank
Ajay Banga is an Indian-born American business executive who currently...