Subscription Management SaaS Company Fusebill Raises $2 Million

Posted Apr 16, 2013

Fusebill is an Ontario based company that helps subscription-based businesses automate invoicing and billing.  Fusebill has raised C$2 million in Series A funding from Canadian venture capital firms OMERS Ventures and Covington Capital.  Earlier this year, Fusebill received funding from angel networks and the Federal Economic Development Agency for Southern Ontario. Fusebill plans on using the funding to expand their services and growing their user base.

“There?s a good class of solutions for enterprises, they?re good products, they?re just extraordinarily expensive,” stated Fusebill CEO Steve Adams. “They?re not acceptable to smaller businesses, so we?re working with companies that are smaller and that don?t need quite the range of functionality that you might get from a Zuora, and are happy to work with a standardized product.”

Fusebill’s pricing options are aimed for startups.  The company handles credit card payments, adjustments, and discounts (one-time or recurring basis).  The company is PCI compliant and can be integrated with e-commerce software.