Subscription management platform Chargebee has now raised up to $38.2m in total, thanks to its new $14m Series D funding round.
Steadview Capital, the alternative asset manager, led the round. FinTech Global reported that the investor also led QR code-based payment app BharatPe’s $50m funding round in August.
Existing investors Insight Venture Partners and Accel also contributed to the round. Insight Venture Partners notably invested more than $100m in the government-focused digital payments startup PayIt in April. Accel was most recently in the news after joining CrowdStrike, a provider of cloud-delivered endpoint protection, in launching a $20m early-stage investment fund.
With its coffers thoroughly filled for now, Chargebee aims to use the money to help SaaS startups grow. Chargebee plans to accomplish this by helping them streamline their revenue operations through the company’s subscription infrastructure.
It aims to use the investment to expand its product offerings and partnerships to create an end-to-end subscription ecosystem to automate revenue operations.
Krish Subramanian, co-founder and CEO of Chargebee, said, “Enterprises and rising startups recognize the value of subscription businesses. Unlike transactional revenue models, subscriptions require companies to evaluate longer-term metrics and redefine KPIs for success.”
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