Polar, a fintech startup focused on creating payment infrastructure for AI-native SaaS companies, has successfully raised $10 million in a Seed funding round.
The round was led by Accel, along with support from several prominent angel investors.
Founded in September 2024, Polar provides a Merchant of Record (MoR) billing engine tailored for modern developers. With just six lines of code, Polar enables AI-driven businesses to quickly onboard and start accepting global payments, handling all sales tax and integrations with popular tools from OpenAI and Anthropic.
Led by Birk Jernström, a former product director at Shopify and co-founder of Tictail (which was acquired by Shopify in 2018), Polar currently serves 16,000 developers. In the past six months, average online sales have surged by over 120% month-on-month, attracting customers such as Bolt AI, Midday, OpenPanel, and Repo Prompt.
Jernström stated, “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 has been on creating high-quality, innovative APIs, SDKs, and products that help coders monetize their software. This funding will enable us to scale Polar while maintaining our dedication to developers and their businesses.”