Chaser collects £3m in growth funding led by Fuel Ventures

Chaser, which follows-up with customers with outstanding bills, has collected £3m in a growth funding round.

Fuel Ventures acted as the lead investor, with existing Chaser backers Sussex Place Ventures, Beacon Capital and Xero director Craig Winkler also contributing.

Having raised the money, the FinTech is looking to expand its team and focus on bolstering its cloud credit control software solution.

Additionally, the company is also looking to invest in data science, build on its intelligence side, hire more staff to its product development team and explore opportunities in Australia.

Chaser gives businesses a tool to automate the chasing of customers with outstanding invoices as well as generate insights in which customers to grant credit to. The

Fuel founder and managing partner Mark Pearson said, “We’re excited to have joined Chaser on their journey as they continue to deliver effective and ground-breaking Cloud Credit Control. They have already established themselves as a market-leader and with the introduction of ChaseAcademy, will only continue to innovate the Cloud Accounting landscape. They have a very exciting future ahead of them and we are thrilled to be a part of it.”

The company will also continue to support its ChaseAcademy, a virtual credit control service incubator. The first cohort comprised of 34 firms, which Chaser is helping to change the payment space and better offer credit to SME clients.

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