Lago, a Paris, France-based prpvider of an open-source billing platform for SaaS and subscription-based companies, raised $15m in Series A funding.
The round was led by FirstMark, with participation from Y Combinator, New Wave, Addition, and Script, as well as industry veterans including Meghan Gill, Romain Huet, and Clément Delangue. FirstMark’s General Partner Matt Turck joined the board.
The company intends to use the funds to expand operations and its business reach.
Lago offers a self-hosted, scalable and modular architecture for metering and usage-based billing, at every stage of a company. Its billing product includes an API for engineers and a user interface for business teams to automate subscription, usage computations, billing cycles, dates, currencies, etc.
The company had previously raised a $7m round led by SignalFire.
FinSMEs
18/03/2024