Concept: California’s technological startup Chargebee has developed a subscription management and recurring billing platform that enables users to automate subscriptions, billing, invoicing, payments, and revenue recognition processes via API. The platform offers tools to serve global payment options in more than 100 currencies, and forecast through data-infused financial reports and analytics.
Nature of Disruption: Chargrbee’s platform enables its users to identify new revenue channels through experimenting with pricing models, upselling through pitching additional features or bundles, and providing a unified view of all subscription and customer data. It provides a flexible billing system to enable the sales and marketing team to run special promotions and the right tools for the support team to bill accurately and respond faster to billing queries. Some of the features offered by the platform include subscription management, recurring billing, security and compliance, recurring payments, revenue recovery, reporting and analytics, and integrations. It enables businesses to transition from one-time revenue models to subscription-based models without affecting the workflow of the organization. The startup claims that all the features of the platform can be customized according to the business requirements of the user. The platform is suitable for various verticals such as Software-as-a-Service (SaaS), e-commerce, e-learning, OTT, IoT, and publications.
Outlook: Many businesses across the globe including traditional businesses are moving towards subscription-based business models. Businesses including automotive and food and beverage(F&B) are also moving towards subscription-based models. Chargebee’s subscription management and recurring billing platform enable organizations to automate the subscription billing processes that can make the process easier for the end-users. In February 2022, the startup raised $250M in a round of funding led by Tiger Global and Sequoia Capital. It aims to use the funding to develop and incorporate additional features to its platform.