- ReCharge is a subscription funds administration platform for eCommerce firms.
- Ecommerce subscriptions platform ReCharge raises $277M.
- It offers a range of billing and payment management tools, with support for payment providers.
- ReCharge is focused on building a cloud-based subscription management platform for businesses.
ReCharge offers subscription management software for e-commerce. In 2015, we built ReCharge to make payments easy for everyone. They are constantly finding solutions for customers to reorder products. Now, they’re able to help over 15,000 businesses dramatically grow and thrive. ReCharge wishes to make it easy for people to sell subscription products online, and create an amazing remote-first culture.
The first mission began as three people working out of a small apartment. They’re trying to solve one of the biggest problems facing Shopify merchants i.e. recurring payments. Now it is at the forefront of recurring billing software, empowering thousands of entrepreneurs to sell their products as subscriptions, and processing tens of millions of dollars in sales every week. The culture is remote-first and stays connected every day using Slack and video chat. Being part of a small, fast-growing company is exciting.
ReCharge Raises $277M for its Ecommerce Subscription Platform:
E-commerce online payment processor ReCharge raised $277 million in growth capital, reaching a post-money valuation of $2.1 billion. The round was led by venture capital firms Summit Partners, ICONIQ Growth, and Bain Capital Ventures.
ReCharge Payments has announced the appointment of Andrew Collins, Managing Director at Summit Partners, to its Board of Directors; Yoonkee Sull, Partner at ICONIQ Growth, and Aaref Hilaly, Partner at Bain Capital Ventures, will also join ReCharge as Board Observers.
The raise comes as consumer brands across the spectrum have had to adapt to a new commercial landscape. This is partly due to the pandemic, which has impacted how consumers buy things, but also to a broader push toward direct-to-consumer (D2C) relationships that seek to take more control by bypassing conventional retail outlets and targeting customers directly.
Custom commerce of ReCharge Businesses:
Businesses can customize their subscription offering and create their own workflows through ReCharge’s APIs. This enables more freedom to combine technologies for each touchpoint. “ReCharge is focused on building a cloud-based subscription management platform for businesses of all sizes,” Tying into this is performance measurement and analytics, which give businesses insights into their revenue and customers. This lets them track their key performance indicators (KPIs) and carry out cohort analyses to improve retention and figure out why customers cancel their subscriptions.