Chennai-based ChargeBee, a subscription billing solution for online businesses (SaaS and Retail), has secured $350,000 funding from a group of US-based private angel investors. These include senior executives working in large enterprises and a few entrepreneurs. ChargeBee has acquired more than 100 private beta users to date, out of which 11 of them have gone live with the billing system.
The company was set up in June 2011 by its CEO Krish Subramanian, KP Saravanan, Rajaraman and Thiyagarajan, who are former Zoho employees. It will use the new funds to unveil a slew of new features, invest in operations and to expand across verticals which includes SaaS, Digital Media and Retail Subscription Commerce.
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