Recharge
“Can a Shopify-native subscription billing tool become the system of record for recurring commerce revenue?”
Founded2014
HQSanta Monica, California, USA
FoundersOisin O'Connor, Mike Flynn
Total raised$277M
Latest roundSeries B, 2021
Valuation$2.1B (2021)
IndustryVertical SaaS / E-commerce Subscriptions
The story
Recharge was founded in 2014 to solve recurring payments for Shopify merchants and bootstrapped for years before raising capital in 2020. The platform evolved from a pure subscription billing/payments tool into a broader e-commerce growth platform — adding bundles, rewards, churn-prevention, and AI-powered SMS communication. It remains tightly coupled to the Shopify ecosystem and operates as a payments orchestration layer between merchants and PSPs (Stripe, Braintree, Authorize.Net) rather than as a payment facilitator or licensed financial entity.
Last 12 months
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Product timeline
2014
Founded to solve recurring payments for Shopify merchants· founding
2020
Raised $50M Series A from Summit Partners after years of bootstrapping· funding
2021
Raised $227M Series B at $2.1B valuation; expanded from subscription billing to broader merchant tools· funding
2024
Expanded product into AI-powered SMS, bundles, rewards, and churn prevention· pivot
The stack
1 layer disclosed in Recharge’s embedded-finance stack
Payments / PSP
Accounting gap: minor