Chargebee Raises Rs 403 Crore In Its Series F Funding Round

Mumbai: Chargebee has raised Rs 403 crore in its Series F funding round, led by Insight Partners. The current round, the biggest so far by the subscription billing startup, comes at a time when brick and mortar companies are adopting subscription models in their businesses, following the Covid-19 pandemic. Existing investors Tiger Global and Steadview Capital also participated in the funding round, bringing the total funding raised by the Chennai-based company so far to Rs 771 crore. Chargebee announced a Series D fundraise of Rs 102 crore led by Steadview Capital in August last year. It also raised an undisclosed Series E round earlier in May. Founded as a bootstrapped Software as a Service startup in 2011, Chargebee’s platform is currently used by over 2,500 companies. The company has also seen traditional businesses across Europe, United States and India signing up for online subscription management during the pandemic. AJ Malhotra, vice president of Insight Partners, said, “Even beyond SaaS and software, we’re seeing a global movement where businesses from cars to coffee pods are launching and scaling with a subscription-first model. The need for an underlying revenue platform that allows businesses this degree of adaptability is paramount today.”