Tallinn-based Creem announced €5 million in seed funding on Wednesday and launched a billing platform designed to be configured and operated by AI agents rather than human engineers. Inovo VC led the round, which now brings the fintech's total capital raised to €7 million and arrives as the company reports annual recurring revenue exceeding €2 million.
The startup has built infrastructure that allows AI coding assistants to set up subscription models, usage-based meters, and revenue-sharing arrangements without developers writing a single line of integration code. Point an agent at Creem's documentation file, and it can configure storefronts, navigate tax compliance across more than 130 countries, and manage chargebacks through the company's merchant-of-record framework. Whether that vision catches on remains to be seen, but early customers have embraced the approach.
Creem 2.0, the new version launched this week, supports seat-based subscriptions, metered billing for tokens or API calls, prepaid credit wallets, and license key distribution. Affiliate tracking and revenue splits run natively, with short links monitoring attribution across marketing channels. The platform includes abandoned-cart recovery and conversion analytics as standard features.
The technical backbone relies on the Model Context Protocol, which Anthropic open-sourced late last year. Creem built an MCP server that installs with a single command and works with tools like Claude Code and Cursor. An agent that reads the platform's documentation can create products, launch checkout flows, parse billing events, and modify subscriptions through API, command line, or Slack channels.
A Payments Veteran Pivots to Agent-First Commerce
Gabriel Ferraz, Creem's co-founder and CEO, brings an unusual pedigree. The former Google employee scaled a payments platform that processed more than €180 million before founding what he describes as Brazil's first cryptocurrency developer agency. He moved to the Baltics in 2019. CTO Alec Erasmus worked at Adyen and later served as chief technology officer at Change Invest. The company has grown quickly, expanding from a single employee last October to around 15 team members now, according to reports.
The company says more than 1,000 AI-focused products use the platform, though Creem has disclosed few customer names publicly. Uneed, a developer tools directory, migrated from competitor Polar after an AI agent rewrote over 1,500 lines of integration code in minutes. "Absolutely no errors," founder Thomas Sanlis said in a case study published by Creem. DaisyUI, a Tailwind CSS library, switched from Lemon Squeezy specifically for the built-in revenue-splitting functionality. Creator Pouya Saadeghi described it as a feature he'd been hunting for.
The company charges 3.9 percent plus $0.40 per successful transaction with no monthly fee. Payouts occur twice monthly, on the first and fifteenth, with an option to receive settlements in USDC stablecoin on the same schedule. VAT, GST, and sales tax handling come included.
Positioning for Machine-to-Machine Commerce
Dawid Sugier, a partner at Inovo VC, framed the investment around operational friction. AI teams "still burn too much time on accounting, tax and operations," he said in a statement, noting that Creem is positioning for transactions where an agent makes the buying decision instead of a human. The company intends to expand its analytics capabilities, affiliate tools, and compliance infrastructure over the coming year.
Practica Capital and Antler joined the round alongside angel investors including Bolt founder Markus Villig, Ready Player Me executives Timmu Tõke and Kaspar Tiri, Voi's Adam Jafer, and Fryd Wiatrowski from Viktor.com. Creem had previously raised €1.8 million in pre-seed funding led by Practica Capital when annualized revenue stood at €930,000.
The competitive landscape has grown crowded. Polar raised $10 million from Accel and targets AI-native developers with live usage meters and billing SDKs. Stripe has made aggressive moves into merchant-of-record services, acquiring Lemon Squeezy and, more recently, usage-billing orchestrator Metronome. Paddle, based in London, serves a similar digital-products market without the agent interface. Credyt launched what it calls an "AI-First Billing" toolkit mid-last year.
Ferraz told Tech.eu that Creem took a different path. "We went the other way," he said. "Creem lets founders bring whatever agents they want and put them to work running and optimising their store." The launch date carried symbolic weight for the team: September 17 marks the company's founding anniversary, and Ferraz wrote in a Product Hunt comment that shipping the new version on the same day "felt right."
Whether AI agents will actually handle procurement decisions at scale is an open question. For now, Creem is betting that the tedious work of billing configuration is a problem worth solving, even if the buyer on the other end is still human.
