Lago is the leading open-source pricing solution focused on complex billing: multi-product/geographies, transactional, usage-based, subscription hybrids, etc, chosen by unicorns like Mistral (AI, $640M raised at $6 billion valuation), Accel-backed Swan (Embedded banking), Together.ai (AI, $102.5M raised at $1.25 billion valuation) or Groq (AI, $300M raised at $2.5 billion valuation).Lago is API-first, the most loved billing solution on Github, and was voted Product of the day week, and month on Product Hunt.Lago raised a total of $22M of funding from investors including Y Combinator, FirstMark Capital, SignalFire, Meghan Gill, who has led the monetization efforts of MongoDB for 14 years, Romain Huet, former head of Developer Relations at Stripe - now leading OpenAI developer experience, and Clément Delangue, CEO of AI open platform Hugging Face.
Lago was founded in 2021 by Anh-Tho and Raffi, who were among the earliest employees at Qonto.com – a $5B B2B neobank. They led Qonto’s revenue growth from pre-product to Series D, and built and scaled the monetization system that took the company from 0 to $100M+ of revenue.
A fun fact was that when Raffi pitched the idea of Lago to Romain (a senior billing engineer at Qonto), he told him “no way”, and said he did want to quit his position at Qonto but he would “NEVER touch a billing system again”.
Step by step, Raffi managed to convince him he could channel this energy and experience to make sure fewer engineers would need to relive the billing nightmares he had to endure. And it worked!At Qonto, they would always underestimate the engineering nightmare billing would create, and learned the hard way about the side effects: delayed launches at best, billing errors, resulting in churning users, and a growing “billing engineering” team that not only was expensive, but very hard to retain. The worst was that at some point, the “pricing strategy” nearly switched to “what’s the easiest option to implement”, rather than “what’s the best for the company”.
Raffi and Anh-Tho, and the founding Lago team then spent a lot of time carefully analyzing why no one had solved this huge problem yet, as they thought solid companies like Stripe or Chargebee had partially addressed it.That’s how they built our conviction on the open-source and “platform” approach of Lago, to not be another “buy billing” option, but rather a “Lego ” that engineers build with to create their tailored monetization stack.
Lago is a well funded project with thousands of stars on Github, in very active development, by our core team and our active community.Additionally, we have strong uptime performance (99,99%+ uptime) and <10 min median response time across support channels.