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Rebill, an Argentina-based startup, raised $3.6 million to proceed constructing automated cost assortment and subscription administration instruments for Latin America.
The funding announcement consists of $600,000 from a pre-seed tranche. The $3 million seed spherical was led by Tiger World Administration and included Y Combinator, Soma Capital, SV Angel and a bunch of angel traders, together with Dropbox co-founder Arash Ferdowsi and Vercel founder Guillermo Rauch.
CEO Nahuel Candia obtained the preliminary concept for Rebill in 2018 when he was consulting for an insurance coverage firm in Argentina. His firm wished to handle the entire conduct of collections, together with altering the cardboard on file and going by way of compliance with safety measures. The implementation course of was estimated to be two to 3 weeks, however turned out to take one 12 months.
Desirous to make this a better course of, Candia joined with Ariel Díaz Ailán, whose background is in e-commerce, to create Rebill in 2020. Rebill was a part of Y Combinator’s Winter 2022 cohort.
The corporate automates the gathering course of and integrates cost gateways and invoicing instruments in order that clients don’t should create their very own. Rebill differs from legacy suppliers in that it’s concentrating on medium to giant firms, is cloud-based and offered on a subscription foundation so clients simply should pay a license price, Candia informed TechCrunch.
Rebill’s providing additionally pre-approves credit score and debit playing cards so its clients can gather with out having to contact their shopper or create advanced billing eventualities. It additionally sends cost notifications through a number of channels and allows clients to handle all of their workplace places from one platform.
Candia estimates that Rebill’s course of cuts down that implementation course of from months to hours.
“We scale back the KYC course of for every of the cost gateways, so we routinely allow the recurring billing processing for all our retailers,” he added.
At the moment, Rebill has shoppers in Argentina, Chile, Colombia, Mexico, Peru and Uruguay and collects funds in 15 currencies. By having a multi-country, multi-currency method, the corporate is rising alongside its clients, who can make the most of the cloud-based characteristic to scale their gross sales regionally in the same manner.
The corporate has been rising 20% month over month, and grew its workers from 4 final 12 months to 25 at the moment. It’s going after a Collection A spherical in 2023, and also will have the ability to reveal annual recurring income, Candia stated.
The brand new funding allows Rebill to proceed increasing its presence into the remainder of Latin America. The corporate may also be engaged on its cost gateways and financial institution integration with the intention to automate the reconciliation course of. Additionally it is integrating with buyer relationship administration, enterprise useful resource administration and lending platforms.
“Our aim is to place our firm because the main cost orchestrator in Latin America,” Candia added. “We plan to double our staff by subsequent 12 months and increase extra in Mexico and Colombia.”
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