Chargezoom Announces Series A Round led by Panoramic Ventures
Bringing the integrated processing power of Global Payments, Heartland, Fiserv, and North American Bancard to QuickBooks, FreshBooks, and Xero customers
IRVINE, Calif., Sept. 6, 2022 /PRNewswire/ — Chargezoom, a leading platform for billing and integrated payments, today announces it has raised $10 million in Series A funding, led by Panoramic Ventures with participation from existing investors SaaS Venture Capital and Stout Street Capital. Existing investor Okapi Venture Capital has also increased its position.
“We are grateful to work with investors who share our vision of redefining B2B payments,” said Matt Dubois, CEO of Chargezoom. “We plan to double-down customer-focused development efforts, creating tools that modern businesses need to reduce payment friction and accelerate their growth.”
Chargezoom provides businesses with robust payment tools by integrating with the accounting applications that they use on a daily basis. Chargezoom has integrations with the most common accounting platforms including QuickBooks Desktop, QuickBooks Online, FreshDesk, and Xero. Chargezoom’s tools allow businesses of all sizes to collect payments faster with full GAAP compliance, and eliminate manual accounting tasks.
Chargezoom has 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.
“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,” said Dan Drechsel, General Partner at Panoramic Ventures. “Chargezoom is the clear leader in eliminating the manual work associated with credit card payment acceptance and billing.”
With this latest 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.
Chargezoom is a leading B2B invoicing and payments platform with a patent-pending integration to QuickBooks, FreshBooks, and Xero. Our platform is redefining B2B billing and payments, saving businesses time and money. Through AR automation, we’ve removed the burden of manual processes and reduced payment friction. We are the partner of choice for Fortune 500 payment service providers and the majority of the top 20 merchant acquirers in the United States. Today we power millions of transactions directly and through white-labeled solutions from our partners.
About Panoramic Ventures:
Panoramic Ventures is a venture capital firm based in Atlanta that takes a “wider-view” approach to investing by targeting the Southeast and Midwest and placing a focus on diverse founders and university startups. Panoramic opens new doors for overlooked founders, giving more entrepreneurs access to capital to build leading tech companies. For more information, visit www.panoramic.vc or follow Panoramic Ventures on LinkedIn, Instagram, or Twitter @panoramicvc.
This press release was originally released on PRNewswire.