Published: 10/7/2020

Good Morning, it's Thursday and we've got an Indian SaaS company with a huge Series F round. And SAIF Partners looks to raise another India-focussed fund.

  • https://tcrn.ch/3jD8par: Chargebee raises $55M in a Series F led by Insight Partners
  • ➡️ Subscription & recurring billing management company Chargebee has raised $55M in their Series F round led by Insight Partners with participation from Steadview Capital & Tiger Global. This brings the company's total fundraise to just over $100M over 8 years (they raised an $800k Series A in 2014- these days that's too small for a seed).

    ➡️ Tiger Global has previously led the company's Series B round, Insight their Series C & Steadview their Series D so it seems like there are no new firms on the cap table. This is also Insight's 3rd investment in India this year following BharatPe and Postman.

    ➡️ And while it might seem easy to set up subscription billing for your business- it's actually a really painful process to manage subscriptions. This is where Chargebee comes in with helping companies automate subscriptions, billing, invoicing, payments and revenue recognition processes in several countries and over multiple payment gateways (Stripe, Braintree, WorldPay and more).

    ➡️ Businesses across the globe are increasingly going digital and are also adopting subscription models- more than 2500 businesses including the likes of Calendly, Okta & Envoy use Chargebee. Recently Chargebee also helped Pret A Manger go digital and helped them sell 16,500 coffee subscriptions on the launch day.

    ➡️ The company plans to use the new capital to further its international footprint. We've already seen a couple of success stories in the Indian B2B SaaS world and I'm excited to see Chargebee succeed and potentially hit the $100M ARR mark in the near future.

    2. https://bit.ly/30H3LR9: SAIF is raising $400 M for their new India-focussed fund

    ➡️ The last 10 months has been great for Indian venture funds- we've seen several firms raise new funds all across (from seed firms like Blume & 3One4 to the larger venture firms like Sequoia & Lightspeed). And now we also have SAIF Partners who plan to raise $400M for their next India-focussed fund.

    ➡️ This is slightly larger than the firms' previous funds, which have been around $350M and will bring the firm's total AUM to over $1B. The firm has also been quite active this year backing the likes of Zomentum, Camp K12, Jodo Pay & Yoga Bar.

    ➡️ SAIF is yet to close the fundraising but according to a source, they will likely be done with it by the end of the year as their track record in India speaks for itself.

    ➡️ The firm has been investing in India from 2001 and has the likes of Paytm, Swiggy, Urban Company, Unacademy & BookMyShow amongst their portfolio. They do have a lot of maturing unicorns in their portfolio at this point so it'll be great for them if some of these cos can figure out how to exit or go public and deliver some returns for the firm as well.

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