- Chargezoom recently announced it raised $10 million. These are the details.
Chargezoom recently announced it raised $10 million.
Funding round: Series A
Funding amount: $10 million
Investors: Led by Panoramic Ventures with participation from existing investors SaaS Venture Capital and Stout Street Capital. And existing investor Okapi Venture Capital has also increased its position.
What Chargezoom does: Chargezoom provides businesses with robust payment tools by integrating with the accounting applications that they use on a daily basis. AndChargezoom has integrations with the most common accounting platforms including QuickBooks Desktop, QuickBooks Online, FreshDesk, and Xero. Plus Chargezoom’s tools allow businesses of all sizes to collect payments faster with full GAAP compliance, and eliminate manual accounting tasks.
Chargezoom 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.
With this latest funding 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.
KEY QUOTE:
“We are grateful to work with investors who share our vision of redefining B2B payments. We plan to double-down customer-focused development efforts, creating tools that modern businesses need to reduce payment friction and accelerate their growth.”
— Matt Dubois, CEO of Chargezoom
“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. Chargezoom is the clear leader in eliminating the manual work associated with credit card payment acceptance and billing.”
— Dan Drechsel, General Partner at Panoramic Ventures
