Today we are proud to announce Chargezoom has closed our heavily oversubscribed Seed round. The investment is led by Okapi Venture Capital and joined by SaaS Ventures.
We are grateful for the trust they have placed in us and our vision. This investment will accelerate our work, helping businesses close the loop on the sales cycle. Reducing time to payment directly impacts the speed of deposit, enabling companies to forecast revenue and ensure cash on hand. Decreasing friction in payments also frees business owners to devote greater resources to growing their companies.
To date, we have 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 growing and becoming more sophisticated with their accounting needs. Frequently, new companies rely on manual input and individual expertise which can leave them open to error or inefficiency and can slow the trajectory of their business. We are proud of the partnerships that we have made with next-generation processors who recognize the needs of their customers and are proactively helping their merchants grow by bringing them tools like Chargezoom to bring their business to the next level.
More than 40 million businesses in the United States use accounting software like QuickBooks, FreshBooks, or Xero and while the software itself is sophisticated, it lacks a few basic necessities for growing businesses, including the ability to automate billing and the payment reconciliation process. Chargezoom bridges that gap, providing businesses with the functionality they need with processes that allow them to pivot or scale as the need arises.
We believe businesses of all sizes should have powerful tools that support their growth plans, relieve burdens, and are easily accessible. As a growing company, we know first-hand the challenges businesses face and have intentionally designed our product with the features they need most. We also aim to keep our pricing fair and consistent, so our product remains accessible as possible for small and growing businesses. We know how often business owners fail to recognize the value of their time. Hours spent on administrative tasks could be invested more meaningfully. Crucially for small and growing businesses the payment experience can set the tone for expectations from customers and be a critical element to building a positive reputation. A process that is fast, simple, and easy builds customer loyalty and encourages future transactions.
Our dedication to the needs of our users has led us to adopt an impartial stance to the products and services that we integrate with, meaning customers can:
- Use the payment processor they already have. With access to the top 20+ gateways for electronic payments, we empower tens of thousands of unique payment processor agreements, as well as common processors like Authorize.net, Stripe, Square, and PayPal.
- Retain the systems they already have. Our API makes it easy to sync CRMs and custom-developed software.
- Develop accounting processes that can scale, grow, and evolve with their business.
- Be ready for growth by maintaining real-time updates on the status of the company financial records, which makes it easy for leadership to identify trends and plan for innovative change.
- Better understand their business health by being fully GAAP compliant and audit-ready, with real-time updates to accountants and company officers.
To allow our own business to grow and thrive, we invest heavily in our human resources, identifying staff with expertise in their domains and who bring outside perspectives, ensuring we are forever advocating for the customer. This focus has allowed our products to develop from a user-first perspective, with customer experience and satisfaction being our benchmarks. As we continue to evolve and expand our business, we continually seek to find staff who can help us better products to serve more businesses and improve user experience even further.
For anyone who works in Accounting or Accounts Receivable, who has challenges with accepting payments (pro tip: it’s everyone!) or whose business needs something more sophisticated than the system that they have today, we invite them to try Chargezoom with no commitment. We offer a free plan that is truly and forever free, with paid pricing that starts at just $20/month.
Thank you to everyone who helped us reach this exciting point in Chargezoom’s history.
Matt Dubois, CEO
Scott King, CRO
Miguel Avellan, CIO