David Tuck Chaser CEO

Chaser secures £3 million Series A funding led by Fuel Ventures

CHASER, THE MARKET-LEADER IN CLOUD CREDIT CONTROL SOFTWARE, ANNOUNCE A £3M GROWTH ROUND FUNDING

Press contact: Rosie Flatley, [email protected]

Chaser, the market leading Cloud Credit Control software, has raised £3 million in Growth Round Funding. The round is led by Fuel Ventures, with participation from existing investors including Sussex Place Ventures, Beacon Capital and Director and early-investor in Xero, Craig Winkler.

Founder and Managing Partner of Fuel Ventures, Mark Pearson said of the funding:

“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.”

The business, which turned five this year, was founded by David Tuck. He explains:

“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”.

Above, David speaks about ChaseAcademy; the world’s first Virtual Credit Control Service incubator which was launched by the start-up in August 2019. It boasts a 12-week programme, which equips Accountants and Bookkeepers with the practical how-to knowledge needed to offer professional-level credit control as a service to their SME clients. It allows SMEs to completely outsource their credit control process to their Accountant, without worrying about jeopardising important relationships, thanks to the innovative Chaser software. This programme is a huge step forward in the industry and levels the playing field for the 90% of SMEs who do not have an in-house finance team.

This funding will allow Chaser to continue to expand ChaseAcademy, increasing the capacity and ensure as many Accounting and Bookkeeping firms as possible can reap the rewards.

With a quickly-growing, passionate team committed to empowering Accountants and Bookkeepers to liberate SMEs from late payments, Chaser continues to provide software at the forefront of disruptive cloud accounting. With this funding round, the company will expand their Product Development team, with a host of new features released in 2020.

Chaser will also be investing heavily in data science, continuing to develop the intelligence of the Chaser software. This will allow Partners to add more value to their outsourced credit control function.

And, after a successful trip to Australia and Xerocon Brisbane in September 2019, the company will be focusing on some exciting developments there.

About Chaser

Businesses spend hours manually chasing invoices, while overdue payments stifle their growth. Since launching in 2014, Chaser has been dedicated to solving this late payment problem for all businesses that sell on payment terms. By sending automatic and intelligent email chasers, the software effectively gets invoices paid on time without losing the human touch. To date, Chaser has helped users chase over $2.2 billion worth of invoices. And, Accountants and Bookkeepers across the globe are using Chaser to bring outsourced credit control to their clients.

The start-up’s achievements have not gone unnoticed. Chaser has been named the Accounting Excellence ‘Cloud App of the Year’ (2017, 2018, and 2019). Chaser was also named Xero’s ‘App Partner of the Year’ (2016), and App Partner of the Month (August 2019).

About David Tuck

David started Chaser in 2014 to make the world’s best credit control software. A chartered accountant, he previously worked for Deloitte and as a small business FD. The company was born out of David’s frustrations with a crippling problem facing SMEs who are not being paid for the work they do. Chaser has been dedicated to solving this late payment problem for all businesses that sell on payment terms.

By sending automatic and intelligent email chasers, the software effectively gets invoices paid on time without losing the human touch. To date, Chaser has helped users chase over $2.2 billion in invoices, and this funding round will allow them to continue to deliver professional standard credit control. Through Chaser, David empowers Accountants and Bookkeepers to deliver clients the best credit control, ending late payment woes and helping them to grow.

Manoj Ranaweera

Manoj has founded, failed and successfully exited from a number of technology product companies as well as support organisations since 2004. Among them, Northern Tech Awards and edocr.com were acquired by GP Bullhound and Accusoft, Inc respectively. Today, Manoj is building a trusted support network for technology companies. He is working with founding teams to help them accelerate including raising investment and M&A.