A Paris startup initially focused on marketing tools has secured $22 million by pivoting into billing, expanding upon the realization of widespread billing issues among customers. Lago’s open source billing platform has attracted prominent startups like Mistral.ai, Together.ai, and Juni prior to their official launch. CEO Anh-Tho Chuong emphasizes Lago’s commitment to developers, offering tailored billing solutions through data-driven usage metering. Notable investors such as FirstMark and SignalFire have supported Lago, projecting a valuation around $100 million. The startup’s unexpected transition to billing has garnered substantial attention, highlighting a unique approach to addressing the crowded billing market.
https://techcrunch.com/2024/03/14/lago-a-paris-based-open-source-billing-platform-banks-22m/