Argentina-based startup Rebill raised $3.6 million for its payment collection and subscription management platform. The funding announcement includes $600,000 from a pre-seed round and adds the $3 million seed-round led by Tiger Global Management and included Y Combinator, Soma Capital, SV Angel and a group of angel investors, including Dropbox co-founder Arash Ferdowsi and Vercel founder Guillermo Rauch.
Rebill is a payment solution that allows merchants to increase their acceptance rates by linking multiple payment gateways in a single transaction. Additionally, it offers full flexibility to manage recurring billing and provides advanced metrics for any e-commerce or SaaS company. The startup differs from legacy providers in that it is targeting medium to large companies, and customers just have to pay a license fee to automate collection of sales and subscriptions, and integrate multiple payment gateways in one place to increase approval rate.
“We reduce the KYC process for each of the payment gateways, so we automatically enable the recurring billing processing for all our merchants,” said CEO Nahuel Candia to Techcrunch.
Currently, Rebill has clients in Argentina, Chile, Colombia, Mexico, Peru and Uruguay and collects payments in 15 currencies. By having a multi-country, multi-currency approach, the company is growing alongside its customers, who can take advantage of the cloud-based feature to scale their sales regionally in a similar way.
The fresh funds will allow Rebill to expand its presence into the rest of Latin America, and improve its payment gateways and bank integration in order to automate the reconciliation process.