Chaser, an online tool that helps you get your invoices paid on time, has raised £500,000 capital to expand and launch in Australia. The fundraising was led by Sussex Place Ventures, with investment from AngelLab, Craig Winkler (MYOB Co-founder and Xero Director) and Mark Poole (formerly Finance Director, Virgin Group).
Chaser enables you to automatically send polite persistent chasing emails to your customers that are key to getting paid on time, which can lead to a boost in cashflow and also help save time spent in chasing them. Chaser have demonstrated this with an average 26 debtor day reduction and 11.5 hour monthly manual chasing time saving since launching in August 2014.
The capital will be used to develop the product offering further and also gives the opportunity to launch in Australia, Xero’s largest market, where they will be kicking off the launch by exhibiting at Xerocon Melbourne later this week.