Chipax Analysis: $60K Raised
What is Chipax?
Chipax is financial software that automatically loads and organizes company financial data. It connects with banks and Chile’s SII, and it covers reconciliation, collections, payments, and reporting. The site says more than 1,800 companies use Chipax daily, and it has operated since 2015.
Location
Luis Carrera 1263, Santiago, CL
Employees
11-50
Founded
2016
Revenue
$7-8M
Product Features & Capabilities
- Automated financial management, integration with banks and SII, real-time data organization, cash flow automation, accounts receivable management, supplier payment automation, real-time reporting (e.g., income statement, chart of accounts), user support and assistance.
Pricing
- Gratis: Ventas ordenadas para nuevos negocios (Por Siempre)
- Emprende: UF 24/año + IVA (2 meses gratis)
- Crece: UF 36/año + IVA (2 meses gratis)
- Escala: UF 48/año + IVA (2 meses gratis)
- +1 cuenta corriente: UF 3/año + IVA (2 meses gratis)
- +1 usuario: UF 2/año + IVA (2 meses gratis)
How much Chipax raised
1 - $60K
July 24, 2020Lead Investor: 500 Global
Who are the founders of Chipax
AC
Antonio Correa
Founder
JB
Joaquín Brenner
Co-Founder, COO
FG
François Gueneau de Mussy
Co-Founder, CTO
FU
Felipe Urzúa
Co-Founder, Chief Revenue Officer
Investors
- 500 Global
- MicroVentures
- Fen Ventures
- Kayyak Ventures
- Y Combinator
- Chile Ventures
- ChileGlobal Ventures
Market Focus
Chipax primarily focuses on the financial technology (fintech) industry, specifically providing financial management software for small and medium-sized enterprises (SMEs).
Competitors Overview
Chipax competes with several notable financial management software solutions tailored for small and medium-sized enterprises (SMEs). The main competitors include:
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NetSuite: A comprehensive cloud-based business management suite that integrates ERP, financial management, CRM, and eCommerce functionalities. It is known for automating core processes and providing real-time visibility into operations.
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Sage Intacct: Part of the Sage Business Cloud, this software offers robust financial management capabilities and is recognized for delivering rich financial and operational insights.
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QuickBooks Online: A widely used cloud-based accounting software that helps businesses manage finances through tools for bookkeeping, invoicing, payments, and payroll. It is known for its user-friendly interface and excellent customer care.
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Stampli: A finance automation platform focused on accounts payable, designed to enhance workflows and streamline payment processes.
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Xero: A cloud-based accounting platform aimed at small and midsize businesses, offering features for financial operations management and automation of accounting tasks.
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Tipalti: This platform automates financial processes such as accounts payable and mass payments, providing a comprehensive finance automation solution.
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BILL: A financial management solution that focuses on streamlining accounts payable and payment processes.
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Yooz: Offers a cloud-based E-invoicing and Purchase-to-Pay (P2P) automation solution, leveraging AI and RPA technologies for enhanced automation and customization.
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Airbase: This platform provides a comprehensive spend management solution, integrating various financial processes into one system.
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Melio: Focused on simplifying payments for small businesses, Melio allows users to pay bills and manage cash flow efficiently.
Notable differences include Chipax's specific focus on construction software and tailored features for project management, which may not be as emphasized in the other platforms. Competitors like Tipalti and Yooz offer specialized automation features, while QuickBooks and Xero are known for their user-friendly interfaces and extensive customer support.
Business Model
Subscription-based model with revenue from software services for SMEs' financial management.
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