Last updated on August 29, 2019
Subscription management startup Chargebee stated on Wednesday it has raised $14 million financings in a round led by hedge fund Steadview Capital.
Chargebee that was set up in 2011 from Krish Subramanian, K.P. Saravanan, Rajaraman S., and Thiyagarajan T., now supplies a payment subscription charging platform, which can be used with other international payment systems and gateways like Stripe and PayPal.
“Enterprises and increasing startups comprehend the worth of subscription companies.
It increased $18.5 million in Insight, Accel and US-based Tiger Global Management this past year, before that it raised $5 million in 2015 by Accel and Tiger.
Chargebee’s fundraise underlines two broad themes in Indian startup financing this year- improved investor interest in software-as-a-service companies, and also a sharp rise in dealmaking from Steadview Capital.
Mint reported July 17 that later moving slow on Indian investments between 2015 and 2018, Steadview intends to spend $500 million within the next two decades, with roughly $20-40 million each deal. In its very first avatar, Steadview bet on a few of the nation’s most significant startups such as Flipkart and Ola.