Billing and subscription management platform Chargebee has collected $18m in its Series C funding round.
Insight Venture Partners led the round, while existing backers Accel Partners, and Tiger Global Management also made commitments.
India- and California-based Chargebee offers small and medium businesses with solutions for billing and invoicing, subscription management, payments, accounting and analytics. The company helps more than 7,000 companies handle these processes and has helped process over $65m of invoices.
Clients can access automated invoicing, and can be set to differ based on the various tax levels in countries. Chargebee enables businesses to access a selection of different payment methods including credit cards, checks, direct debit and digital wallets.
Insight Venture Partners vice president Harley Miller said, “Chargebee delivers a broader and deeper subscription billing management solution built for both non-technical business users as well as developers. As a firm, we are long on recurring revenue businesses. Chargebee is poised to capitalise on this trend, as its solution is both robust and easy to use for SMB and enterprise clients alike.”
This transaction marks the fourth FinTech deal by Insight Ventures this year. Earlier in the month, the firm led the €5m funding round in to Swedish web security platform Detectify, to accelerate its international expansion.
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