Payment infrastructure startup Polar raises $10 million
Polar, a fintech startup building payment infrastructure for AI-native SaaS companies, has raised a $10 million Seed round.
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The funding round was led by Accel with support from a host of prominent angel investors.
Launched in September 2024, Polar offers a Merchant of Record (MoR) billing engine designed for the next generation of developers. Polar integrates with just six lines of code, enabling AI-native businesses to onboard and start accepting payments globally in minutes, with Polar taking care of global sales taxes and connections to popular products from OpenAI or Anthropic.
Founded by Birk Jernström - former director of product at Shopify and ex-founder at Tictail (acquired by Shopify in 2018) - Polar currently counts 16,000 developers as customers. Average online sales have grown more than 120% month-on-month for the past six months, with customers including Bolt AI, Midday, OpenPanel and Repo Prompt.
Says Jernström: 'Our mission at Polar is to empower developers to ship faster and build businesses around their software - leaving billing and international sales tax headaches to us. Our focus over the past years has been entirely on building high-quality and innovative APIs, SDKs and products that help passionate coders monetize their software. This funding will help us to scale Polar up while maintaining this dedication to developers and their businesses.'
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