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Anh-Tho and Raffi were among the earliest employees at Qonto.com, a $5B B2B neobank, where they led its revenue growth from pre-product to the tens of millions of ARR.

After this wild stint, they felt a growing urge to go back to building new things again. They also shared a passion for data, applied to business use cases. They finally took the leap and co-founded “Lago” in March 2021.

They applied to (and got in) Y Combinator shortly after, pitching a “a no-code data tool for Growth Marketing teams”. A few months later, they shipped their product and decided to make their users pay from day 1.

That’s how they re-discovered the pain of setting up a billing system for a B2B SaaS. Indeed, the team had also built the home-made billing system at Qonto. They experienced the related challenges first hand before. Going beyond their own experience at Qonto and Lago, the dozens interviews they led with other companies confirmed their personal observations: although it was simple to set up a subscription billing for a B2C company (one user pays a fixed amount per month), B2B companies had more nuanced needs: hybrid pricing (one fixed amount + a variable amount based on subscriptions), several users per account, more complex internal workflows leading to a payment.

And the problem was still poorly addressed, making companies default to building clunky home-made systems or hacking around incumbent billing tools. And none of the options made sense, for such a critical topic impacting the customer experience, financial health of the company and literally every internal team.

Shortly after, they decided to shift all their efforts to building the open-source alternative to Stripe Billing.