Chargebee, a San Francisco-based subscription management platform, has introduced an eInvoicing service for subscription model businesses, the company announced Wednesday (March 16).
The feature includes updates for Chargebee customers, including taxation and revenue recognition tools as well as a marketplace to automate billing workflows, the company said.
“Chargebee has solved a huge problem for us,” said Gabriele Proni, co-founder and chief technology officer of Voxloud, an Italian-based communications company, in a statement. “Italy has some of the strictest eInvoicing mandates in the world, and without Chargebee’s eInvoicing service, we would have had to spend countless hours sending them out manually.”
Some nations have mandated eInvoicing for business-to-government (B2G) transactions to update and simplify tax reporting and payments. Brazil, France, Finland, Germany and India have implemented such rules. Poland, France, Italy, Mexico and Chile are expected to follow suit next year.
Chargebee’s service allows businesses seeking global expansion to comply with local regulations while serving B2G and B2B customers in new countries.
The launch comes less than two months after Chargebee reached a $3.5 billion valuation following a $250 million funding round.
Read more: Chargebee Raises $250M at $3.5B Valuation
This round, led by Tiger Global and Sequoia Global, more than doubled Chargebee’s value. The company was valued at $1.4 billion last year after raising $125 million in venture funding.
Founded in Chennai, India, by Krish Subramanian and Rajaraman Santhanam, Chargebee’s clients include startups and high-profile companies, including Study.com, software maker Freshworks and Gwyneth Paltrow’s lifestyle brand Goop.
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