Steadview leads $14m Series D for India's Chargebee

Chargebee was founded as BubblePath in 2011 to provide online subscription businesses with a system to facilitate recurring billing, automating payments through a variety of gateways such as PayPal. The company has expanded its operations to include end-to-end subscription workflow management and revenue operations. It claims to process over $2 billion in subscription revenue per year from thousands of businesses worldwide.

In the past year, Chargebee has pursued significant global expansion, opening offices in Salt Lake City and Amsterdam in addition to its locations in San Francisco and Chennai. It also introduced the single biggest update to the service, introducing a host of new capabilities to streamline the revenue cycle across marketing, sales, finance, and operations.

Chargebee represents Steadview’s second investment in an Indian financial technology player in less than a week. The UK-based firm co-led a $50 million Series B round earlier this week for BharatPe, a digital payment services provider for offline businesses in India.

“Steadview’s focus on long-term investments aligned beautifully with our goal of building Chargebee as the essential infrastructure for every SaaS (software as a service) and subscription business,” Chargebee founder Krish Subramanian said in a blog post.

Chargebee’s previous investors include Insight Venture Partners, which led an $18 million Series C round in the company last year. Accel Partners and Tiger Global Management – both of which also participated in the latest round, according to media reports – took part in that investment as well.

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• Topics
• South Asia
• Financials
• Technology
• Expansion
• India
• TMT
• Financial Services
• Growth capital