Chargezoom brings the integrated processing power of Global Payments, Heartland, Fiserv, and North American Bancard to QuickBooks, FreshBooks, and Xero customers.
IRVINE, Calif., Sept. 6, 2022 /PRNewswire/ Chargezoom, a leading platform for billing and integrated payments, today announces it has raised $10 million in Series A funding, led by BIP Ventures with participation from existing investors SaaS Venture Capital and Stout Street Capital. Existing investor Okapi Venture Capital has also increased its position.
"We are grateful to work with investors who share our vision of redefining B2B payments," said Matt Dubois, CEO of Chargezoom. "We plan to double-down customer-focused development efforts, creating tools that modern businesses need to reduce payment friction and accelerate their growth."
Chargezoom provides businesses with robust payment tools by integrating with the accounting applications that they use on a daily basis. The company has integrations with the most common accounting platforms including QuickBooks Desktop, QuickBooks Online, FreshDesk, and Xero. Chargezoom's tools allow businesses of all sizes to collect payments faster with full GAAP compliance, and eliminate manual accounting tasks.
Chargezoom has signed agreements with Fortune 500 payment service providers and entered partnerships with the majority of the top 20 merchant acquirers in the United States who recognize the gap in solutions for their customers who are becoming increasingly sophisticated with their accounting needs. Chargezoom today powers millions of transactions on behalf of banks and payment providers.
"Matt and his outstanding team have led the way in bringing the proven processing capabilities of the major processors, folks like Heartland, North American Bancard, Fiserv, and similar to businesses allowing them to focus on accounting and operations," said Dan Drechsel, General Partner at BIP Ventures. "Chargezoom is the clear leader in eliminating the manual work associated with credit card payment acceptance and billing."
With this latest round, Chargezoom will double down on product expansion and continue to attract top talent with plans to double staff size by the end of 2022.
About Chargezoom
Chargezoom is a leading B2B invoicing and payments platform with a patent-pending integration to QuickBooks, FreshBooks, and Xero. Our platform is redefining B2B billing and payments, saving businesses time and money. Through AR automation, we've removed the burden of manual processes and reduced payment friction. We are the partner of choice for Fortune 500 payment service providers and the majority of the top 20 merchant acquirers in the United States. Today we power millions of transactions directly and through white-labeled solutions from our partners.
About BIP Ventures
BIP Ventures partners with extraordinary founders to drive exceptional outcomes. Since 2007, the firm has invested in the success of B2B software and tech-enabled service businesses at all stages of maturity. In addition to capital, we support entrepreneurs with access to infrastructure, acumen, and talent that results in category-leading companies. Our distinct multi-stage investment platform has driven consistent top-quartile returns over 15 years. For more information, visit bip-ventures.vc or follow BIP Ventures on LinkedIn, Instagram, or Twitter @bipventures
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