Startups in the billing space you need to know

They include Chargebee, Zentoni, DeferIt, SplitWise, and Monetize360

Like nearly eveything else, digitization has changed the way we pay for things. I'm not only talking about electonic payment consumer apps like Zelle and Venmo, but even the models that companies use to charge their customers. 

For example, there's usage-based pricing (UBP), a new pricing model in which customers are charged only when they use a product or service, unlike a subscription pricing model, where the user is charged a fee regardless of how often they use the service. This model is growing: in a study of 600 SaaS companies, 45% had a UBP model in 2021, up from 24% in 2020. 

There are also a number of companies using technology to automate billing, some catering to specific verticals, such as healthcare, or specific types of businesses, like gyms or salons.

Here are some of the companies in the billing space that you should know:Chargebee 

Description: "Chargebee is the recurring revenue management platform for global scale. Leading companies trust Chargebee to power their full recurring revenue lifecycle, from subscription billing and invoicing to cash, accounting, renewal, and more"

Founded: 2011

Total funding: $468.2 million

Last funding round: February 2022

Investors: Sequoia Capital India, Insight Partners, Accel, Tiger Global Management, Insight Partners, Sapphire Ventures, Steadview CapitalCedar

Description: "Today’s fragmented healthcare system frustrates everyone. Cedar’s consumer-friendly enterprise platform reduces administrative and billing friction, leading to better outcomes for providers, payers and the people they serve"

Founded: 2016

Total funding: $419.4 milllion

Last funding round: December 2022

Investors: Memorial Hermann Foundation, Andreessen Horowitz, SV Angel, Tiger Global Management, Founders Fund, Thrive Capital, Craft Ventures, JP Morgan Chase, Sound Ventures, Lakestar, Kinnevik, Nat Turner, Martin Ventures, Crew Capital, Kaiser Permanente, Concord Health Partners, Kevin Systrom, Jerod Mayo, Jeffrey L. VacircaTabby 

Description: "With Tabby, you can split your purchases into 4 interest-free payments, online or in-store"

Founded: 2019

Total funding: $394 million

Last funding round: January 2023

Investors: Global Founders Capital, Sequoia Capital India, Endeavor Catalyst, VentureSouq, 
Wamda Capital, HOF Capital, PayPal Ventures, Global Ventures, Arbor Ventures, Mubadala, Raed Ventures, MSA Novo, Atalaya Capital, Partners for Growth, STV, Delivery Hero, Sahra Growth Capital, Outliers Venture Capital, Jameel Investment Management Company, AB Accelerator, Abdul Latif Jameel, Arab Bank
FreshBooks

Description: "Accounting software built for business owners and accountants"

Founded: 2003

Total funding: $331.9 million

Last funding round: August 2022

Investors: SCALE AI, JP Morgan, BMO Financial Group, Sand Hill Angels, Gaingels, Atlas Venture, Oak Investment Partners, Accomplice, Barclays Corporate Banking, Georgian, Northleaf Capital Partners, Vinyl Capital, Manulife FinancialZenoti

Description: "We're the best all-in-one, cloud-based software for big, growing, ambitious brands in beauty and wellness"

Founded: 2010

Total funding: $331 million 

Last funding round: June 2021

Investors: TPG, Advent International, Accel, Tiger Global Management, Norwest Venture Partners, Steadview CapitalRecharge

Description: "Recharge turns one-time buyers into loyal repeat customers. We make it easy for them to subscribe, buy again, try new products, and manage their account"

Founded: 2014

Total funding: $277 million

Last funding round: May 2021

Investors: ICONIQ Growth, Bain Capital Ventures, Summit PartnersViaBill

Description: "ViaBill allows you to pay for your purchases over time, interest-free. This way you can buy and enjoy now at a price that works for you"

Founded: 2010

Total funding: $177.3 million

Last funding round: February 2022

Investors: Headline, Fasanara Capital, BlackFin Capital PartnersResolve

Description: "Unify your B2B checkout and invoicing experience to scale your business"

Founded: 2019

Total funding: $85 million

Last funding round: December 2021

Investors: SV Angel, Alumni Ventures, Insight Partners, Initialized Capital, Haystack, Commerce Ventures, Four Cities Capital, Clocktower Technology Ventures, KSD CapitalBillogram 

Description: "Billogram’s invoicing & payments platform automates customer management, prevents churn and increases revenue"

Founded: 2010

Total funding: $71.3 million

Last funding round: August 2022

Investors: Swisscom Ventures, Inbox Capital, Partech, Aggregate Media, CNI Nordic, Edastra Venture Capital, Thord Wilkne, M2 Asset Management, Peter SjunnessonOzow

Description: "At Ozow, we develop payment solutions that make it easy, fast and safe for customers to pay and merchants to get paid"

Founded: 2014

Total funding: $49.4 million

Last funding round: November 2021

Investors: Endeavor South Africa, Tencent, Bossanova Investimentos, Endeavor Catalyst, Kalon Venture PartnersDeferIt

Description: "Get the flexibility to pay bills your way, whether upfront or over time in 4 easy installments. No interest. No late fees. Just a simple subscription"

Founded: 2018

Total funding: A$45.4M

Last funding round: March 2021

Investors: Alceon Group, Carthona CapitalFloBiz 

Description: "Founded in 2019 by IIT and BITS alumni, FloBiz is a neobank for SMBs backed by renowned investors like Sequoia Capital, Elevation Capital, Greenoaks Capital, Beenext and Think Investments. Our products & solutions are designed to introduce a completely new way of doing business for small & medium enterprises with creative use of technology"

Founded: 2019

Total funding: $44 million

Last funding round: September 2021

Investors: Sequoia Capital India, BEENEXT, Kunal Shah, Elevation Capital, iSeed, Whiteboard Capital, Jitendra Gupta, Vijay Shekhar Sharma, Amrish Rau, Neeraj Arora, Think Investments, Nitin Gupta, Krishnan Menon, Sayli Karanjkar, Ankit Tomar
Ayoconnect

Description: "We believe that financial services are the backbone of any thriving economy and that any business should be able to offer financial services to their customers. That's why we have built Southeast Asia’s leading open finance platform – to enable anyone – from big banks and large tech companies to startups – to serve their customer needs better and unlock new business growth"

Founded: 2016

Total funding: $43 million

Last funding round: October 2022

Investors: Tiger Global Management, STRIVE, Susquehanna International Group, CreditEase Fintech Investment Fund, AC Ventures, peercheque, Finch Capital, Alto Partners Multi-Family Office, Convergence Ventures, Patamar Capital, BRI Ventures, Aakrit Vaish, Mandiri Capital Indonesia, PayU, Miten Sampat, Amand Ventures, Kakaku.com, Brama One Ventures, Paul Bernard, Jeff Lin, Ilham HabibiePrevise 

Description: "Using data and AI to make cash more accessible to small and medium sized businesses worldwide"

Founded: 2016

Total funding: $37.8 million 

Last funding round: April 2022

Investors: Tencent, Capability and Innovation Fund, Bessemer Venture Partners, Scottish Enterprise, Bessemer Venture Partners, Hambro Perks Ltd., Founder Factory, Upscale, Mastercard, Augmentum Fintech, Reefknot InvestmentsMetronome 

Description: "Metronome helps software companies launch, iterate, and scale their business models, with billing infrastructure that works at any size and stage"

Founded: 2019

Total funding: $35 million

Last funding round: February 2022

Investors: Christian Kleinerman, Armon Dadgar, SV Angel, Andreessen Horowitz, General Catalyst, Elad Gil, Lachy Groom, Avichal Garg, William Hockey, Octave, Zachary Perret, Stephanie Friedman, Neeraj Berry, Ion Stoica, Reynold XinSplitwise 

Description: "Keep track of your shared expenses and balances with housemates, trips, groups, friends, and family"

Founded: 2011

Total funding: $30.2 million

Last funding round: April 2021

Investors: Insight Partners, Walnut Venture Associates, MassChallenge, Silicon Valley Bank, Great Oaks Venture Capital, Ridge Ventures, Bullpen Capital, Clocktower Technology Ventures, Scott Banister, Rocketship.vc, Mastercard Start Path, Andrew Chen, William Guttman TNG Wallet

Description: "Transfer money amongst friends and any other members of the vibrant TNG Wallet network at anytime, anywhere and in any weather"

Founded: 2012

Total funding: $30 million

Last funding round: July 2022

Investors: TNG FinTech GroupLibeo 

Description: "Libeo helps you manage your customer and supplier invoices on a daily basis"

Founded: 2019

Total funding: €26 million

Last funding round: February 2021

Investors: DST Global Partners, LocalGlobe, Serena, Breega, Roosh Ventures

Inbox Health

Description: "Medical billing teams of every size use Inbox Health to turn managing patient responsibility from a liability into an asset"

Founded: 2017

Total funding: $22.8 million

Last funding round: April 2021

Investors: Collaborative Fund, Healthy Ventures, StartUp Health, Connecticut Innovations, Collaborative Fund, LaunchCapital, Commerce Ventures, I2BF Global Ventures, Vertical Venture Partners, Connor Theilmann, Enhanced Capital Partners, Atento Capital, Bill Clerico, Metropolis Venture Partners, Fairview Capital Partners, James D. Foy, David Sturek, Mohawk Ventures, Margaret RicciardiRecVue 

Description: "Innovative enterprises seeking solutions to help them grow, increase profit and modernize are often hamstrung by legacy, customized or totally homegrown systems. RecVue’s Agile Monetization Platform (RAMP360) is a complete, industry-specific suite of monetization applications that enables large enterprises to accelerate growth and profitability in today’s digital economy"

Founded: 2016

Total funding: $20.2 million 

Last funding round: January 2021

Investors: Long Light Capital, Cota Capital, EPIC Ventures
Subskribe

Description: "Subskribe is the unified CPQ, billing, and revenue platform that enables innovative SaaS deals. No silos. No hassle. Zero reconciliation, from quote to revenue"

Founded: 2020

Total funding: $18.4 million

Last funding round: February 2022

Investors: Slow Ventures, 8VC, Correlation Ventures, Streamlined Ventures, Four Cities Capital, Louis Beryl, Artiman Ventures, The E14 Fund, Lorimer Ventures, Crew Capital, Xoogler, Keenan Rice, Ben Porterfield, NKM Capital, Sridhar Ramaswamy, Ryan Carlson, Jeffrey Lunsford, Chuck Dietrich, Avid Larizadeh, Jon Runyan, Vibhu Mittal, Eric Sager, Dimitri Sirota, Akshay Bhargava, Ben Galbraith, Mike Kourey
Upflow 

Description: "Collect customer payments effortlessly. Automate tedious payment reminders.
Accelerate communication with your customers. Stop wasting your team's time running after past due invoices"

Founded: 2018

Total funding: $17.9 million

Last funding round: June 2021

Investors: Lorimer Ventures, eFounders, Y Combinator, Kima Ventures, AltaIR Capital, 9Yards Capital, Thibaud Elziere, Didier Valet, Guillaume Lestrade, Maximilian Tayenthal, Raffael Johnen, Giorgio Riccòm3ter

Description: "Our pricing infrastructure and analytics solutions power any variation of usage-based pricing and ‘drop in’ to the existing stack. They help software companies capture their true value by pricing and selling better"

Founded: 2020

Total funding: $17.5 million

Last funding round: February 2022

Investors: Insight Partners, Kindred Capital, Union Square VenturesFlashtract 

Description: "Send and receive payment applications, lien waivers, compliance documents, payments, and more on the largest payment network for general contractors, subcontractors, suppliers, and owners"

Founded: 2018

Total funding: $15 million 

Last funding round: January 2022

Investors: Shine Capital, AdditionAnchor

Description: "Freedom from the burden of invoicing and collections. One platform to make your billing cycle flow. Autonomously"

Founded: 2021

Total funding: $15 million

Last funding round: December 2021

Investors: Entrée Capital, Tal Ventures, Rapyd Ventures
Durable 

Description: "More than a website builder, Durable gives you all the tools you need to grow your business under one simple login. From SEO to invoicing, we've got you covered"

Founded: 2021

Total funding: $12.5 million 

Last funding round: December 2022 

Investors: Dash Fund, Lorimer Ventures, Soma Capital, South Park Commons, Torch Capital,  Infinity Ventures, Altman Capital, Night CapitalOrdway

Description: "Ordway software provides billing, accounting, and KPI reporting for “as-a-Service” businesses"

Founded: 2018

Total funding: $12.5 million

Last funding round: February 2020

Investors: Clocktower Technology Ventures, CRV, Lerer Hippeau, Founder Collective, Social Starts, Revolution’s Rise of the Rest Seed FundChargezoom 

Description: "Chargezoom is a user-friendly, single platform for managing your electronic payments and recurring billing. We sync with the accounting package that you’re already using (such as QuickBooks Desktop, QuickBooks Online, FreshBooks, Xero, etc.) to provide automation for tasks that don’t require human interaction"

Founded: 2019

Total funding: $12 million

Last funding round: August 2022

Investors: Stout Street Capital, SaaS Ventures, Okapi Venture Capital, Panoramic Ventures,
Asaas

Description: "Offer multiple forms of payment, manage your charges, issue invoices, anticipate receipt of money and pay suppliers in one place"

Founded: 2013

Total funding: $11.6 million

Last funding round: October 2020

Investors: Banco Bradesco, Parallax Ventures, Grão, CVENTURES, InovaBRA, Everson LopesPushPress

Description: "PushPress helps you increase your revenue, get clarity on your metrics, automate repetitive tasks and provide your members with a superior gym experience"

Founded: 2013

Total funding: $11.5 million

Last funding round: August 2022

Investors: Mucker Capital, Altos Ventures, Calm Company FundMamo

Description: "Digitize your payment process regardless of where and how you sell. With Mamo, payments are simpler, faster, and friendlier. For you, and your customers"

Founded: 2019

Total funding: $9.5 million

Last funding round: June 2021 

Investors: KSK Angel Fund, AlRajhi Partners, 500 Global, Global Founders Capital, VentureSouq, Tekton Ventures, Global Ventures, 4DX Ventures, MSA Novo, Firestartr, B&Y Venture Partners, Olive Tree Capital, Dubai Angel InvestorsNous 

Description: "By joining the Nous community, your household benefits from our collective knowledge. The information you give Nous helps us all learn the facts about the true cost of living. We use that knowledge to keep providers honest and make sure households get a fairer deal"

Founded: 2021

Total funding: $9 million

Last funding round: February 2022

Investors: Tom Blomfield, Daniel Hegarty, Mosaic Ventures, Mandeep Singh, Christopher North, Brent Hoberman, Any Phillipps, Eamon Jubbawy, John Fingleton, John GibsonMonetize360 

Description: "The way that businesses deliver products and services has evolved from the simplicity of perpetual one-time and monthly subscription billing, to today's complex multi-dimensional, multi-metric billing models.  Monetize360 is designed to simplify supporting these complex models, without the need for any custom code"

Founded: 2017

Total funding: $3.2 million

Last funding round: October 2021

Investors: SVQUAD

(Image source: innovolo.co.uk)