We initiate coverage of Chargeover in the Billing Management market with an MGI 360 Rating of 50 and a Neutral outlook.
Functional breadth/depth, attractive pricing approach, and customer-centric support have accelerated growth off a small base and placed ChargeOver among the top three simple subscription billing solutions for tier 3 (i.e., SMB) projects. Intense focus on a narrow but large market segment has enabled Chargeover to deliver a functionally rich solution. The Finance score is above average reflecting high growth, a clean balance sheet and high customer retention. Scaling the business and building channels are the challenges, particularly in light of recent funding and management changes among its primary competitors.
The best use case for Chargeover is a $500k-$25 million B2B subscription billing project with moderate complexity. Quickbooks and Xero customers who require agile billing functionality at an affordable price should consider Chargeover.
Founded in 2011, Minneapolis, MN-based Chargeover focuses on the recurring billing requirements of SMB organizations. The company offers a cloud-based solution for subscription billing that emphasizes a balance of functionality and simplicity of use. The company is self-funded and self-sufficient with high levels of both retention and top-line growth.
ChargeBee, Chargify, CheddarGetter, Fusebill, Recurly and a handful of low-end subscription-billing solutions
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