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Sweden’s Polar raises €8.6M to build the open-source monetisation platform for one-developer unicorns
- Polar, a payments infrastructure company based in Stockholm, has raised €8.68M in seed funding led by Accel.
- Notable angel investors who participated in the funding round include Guillermo Rauch, Tobi Lütke, and others.
- Accel, known for backing successful companies like Slack and Spotify, led the round, recognizing Polar's potential in the developer community.
- Polar, founded by Birk Jernström in 2022, simplifies billing implementation for AI-native SaaS businesses.
- Their open-source Merchant of Record solution allows for quick billing integration with just six lines of code.
- The company boasts a growing customer base including Bolt AI, Midday, and more.
- The funding will support Polar in expanding globally, developing new billing tools, and strengthening developer relationships.
- Polar aims to assist developers in monetizing their software efficiently, handling billing and international sales taxes.
- With over 18,000 customers in 100+ countries, Polar experienced significant growth since its billing platform launch in September 2024.
- The company has seen a 120% month-on-month growth in online sales over the last six months.
- Polar's focus on open source and developer-centered products has attracted a community of 16,000 developers using its platform.
- The platform offers automated SaaS entitlements and integrates with tools like Framer, Raycast, and Zapier for upselling opportunities.
- Overall, Polar aims to simplify billing complexities for developers, enabling them to focus on product development and business growth.
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