Chennai- based payments platform Chargebee become a Unicorn startup in India

Chennai-based payments platforms have received a fresh round of funding in India to become a Unicorn startup in India. Chargebee is now valued at $1.4 billion.

Chargebee plans to invest in products to help businesses scale their subscription revenue operations seamlessly from start-up to IPO. The Chennai-based startup company also announced that it will be increasing its investment into global expansion and key partnerships are now valued at $1.4 billion.

Chargebee is a subscription billing and revenue management platform the automates revenue operations of over 3,000 high-growth subscription-based businesses from start-ups to enterprises.

SaaS platforms help subscription-based across verticals – SaaS, eCommerce, e-learning, loT, publications, etc. by providing automating operations around subscriptions, billing, invoicing, payments, and revenue recognition.

According to reports, Urban Indians are facing payment app frauds ( 24 percent) identity theft ( 20 percent) and payment card fraud complaints rise in India during the corona pandemic.

Data breach reports have shown a steady increase in cases in the last past few months. Most urban Indians victims of all forms of data breaches by the Chinese instant loan credit payments apps found in the Google Play Store.