Chaser raises £3m led by Fuel Ventures to expand its credit control platform and academy
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The funding round was led by Fuel Ventures to support the expansion of ChaseAcademy and product development.
Chaser provides cloud credit control software that automates invoice chasing to help small businesses manage cash flow. The platform enables accountants and bookkeepers to offer outsourced credit control services to their clients.
Chaser has secured £3m in funding led by Fuel Ventures, with participation from Sussex Place Ventures, Beacon Capital and Craig Winkler. The capital will be deployed to expand the ChaseAcademy programme, grow the product development team, and invest in data science capabilities.
Founded in 2014, the company provides automated credit control software designed to help small businesses recover unpaid invoices and improve cash flow. The fresh investment follows the recent launch of its Virtual Credit Control Service Incubator and comes as the firm eyes further international development following a trip to Australia.
From the founder
"SMEs in the UK are currently owed over £225 billion in unpaid invoices. For many, selling on payment terms is a broken experience. This is due to late payments, which straitjacket growth. Since our launch, 5 years ago, we have freed businesses from the burden of late payments. We’re extremely proud of what we have accomplished since 2014 and, with the introduction of our new Virtual Credit Control Service Incubator, we can help Accountants and Bookkeepers to level the playing field for SMEs"
David Tuck
Founder at Chaser
Investor perspective
"We’re excited to have joined Chaser on their journey as they continue to deliver effective and ground-breaking Cloud Credit Control. They have already established themselves as a market leader and with the introduction of ChaseAcademy, will only continue to innovate the Cloud Accounting landscape. They have a very exciting future ahead of them and we are thrilled to be a part of it."
Mark Pearson
Managing Partner, Fuel Ventures
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Categories
About the company
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Chaser
Chaser builds cloud credit control software that automates invoice reminders for small businesses.