Chargebee pledges a $5b fund for startups, offers its subscription platform free for upto $100K
Chargebee, the global player in subscription billing and revenue management, announced that it will be pledging $5 billion dollars of revenue processing capability for early-stage startups. With this pledge, qualifying startups will be able to use Chargebee's revenue management platform and services for free until they clock $100,000 in revenue.
Chargebee enables businesses across industries to transition and scale their subscription revenue. This pledge makes its best-in-class capabilities used by thousands of high-growth, pre-IPO, and public organizations accessible to early stage startups.
Chargebee has already invested in the startup ecosystem since 2016, with over 10,000 early stage startups getting to product-market fit and beyond with its "Launch Program" that offered up to $50K of free revenue processing. In 2020 alone, startups on Chargebee's Launch Program raised over $250M in Seed and Series-A Funding.
With today's announcement, Chargebee has doubled the revenue processing limit for qualifying startups from $50,000 to $100,000 .With this increase, the company aims to enable 50,000 early stage startups in the next 2 years, effectively allowing $5 Billion to be processed for free through its billing platform.
A recent beneficiary of Chargebee's Launch Program is Cocoon, which provides a 'family hub' that doubles up as a safe space for kids to play and learn, while allowing parents to get their work done.
Karl Chong, CEO, Cocoon: "For many startups, it's difficult to spend a lot on technology up-front. Chargebee's Launch Program plan allowed us to test our billing and subscription management workflows in a risk-free proposition. Providing that for startups speaks a lot about Chargebee's commitment to growing the ecosystem and offering founders the ability to experiment and grow."
Krish Subramanian, CEO and Co-founder, Chargebee: "The post-covid economy has opened up possibilities for a new breed of startups. Traditionally 'non-scalable' businesses like learning, fitness, health, and more break down geographic and market barriers by moving to a digital subscription based business model. This fund will allow these innovative startups to build and scale their revenue without impacting their current cash flow".
Omar Nawaz, Chief Product Officer, Chargebee: "The first $100K is the most difficult phase in a startup's journey, as it struggles to identify the right value metrics and product-market fit. This pledge gives businesses the ability to use Chargebee's capabilities to experiment with pricing, rethink packaging, and scale revenue operations in this critical discovery phase of their business."