Riding the subscription model surge

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Subscription-based services are everywhere nowadays. Paying a monthly (or yearly) fee for the services we need has become commonplace: I listen to music on Spotify, watch shows on Netflix, and attend exercise classes through ClassPass. Even Tech in Asia operates on this model.

According to a recent report by enterprise software firm Zuora, subscription-based companies are still growing, despite the challenges brought by the Covid-19 pandemic. And that’s where payments platform Chargebee is seeing opportunities for growth.

Today we look at:

• How Chargebee’s fresh funding will help it capitalize on the subscription model surge
• Tim Draper’s newest investment in India
• Other newsy highlights such as the US’ plans to restrict Chinese payment platforms and Google’s antitrust case in India

How this company is making the most of the SaaS wave

Subscription billing software provider Chargebee announced that it has raised US$55 million in a series F funding round led by US-based Insight Partners. This latest round, which also involved participation from the company’s existing backers, brings Chargebee’s total funding raised to US$105 million.

• All about the money: Founded in 2011, Chargebee helps companies automate revenue operations such as collecting payment information on its platform. It also performs billing adjustments and subscription renewals for software-as-a-service (SaaS) companies, ecommerce platforms, and subscription-based services.
• On the rise: The startup claims it has been consistently more than doubling its revenue year on year since 2017, and is already projected to log a 100% annual revenue growth in 2020.
• Riding the wave: Subscription-based companies are growing, and Chargebee is seeing the “SaaS-i-fication” of traditional enterprises that are adopting a subscription-first business model. The company intends to use its fresh funding to further enable this shift by enhancing its product and integration ecosystem.

Read more on subscription-based companies:

• Chargebee banks $55m to capitalize on global SaaS surge
• Indonesia may see a subscription media boom
• Examining the numbers behind Indonesia’s biggest edtech startup

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