RevenueCat raises $12M Series C as it expands its subscription management to the web [Yahoo! Finance]
Apple Inc. (AAPL)
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Source: Yahoo! Finance
The company has closed on a $12 million Series C led by Adjacent, following the launch of a new product, RevenueCat Billing, that allows web app developers to integrate subscription purchases into any website. Later, it will also support Roku. The timing of the product's launch is notable, as it arrives amid the implementation of the E.U.'s Digital Markets Act (DMA) regulation, which is forcing Apple to open up the iPhone and the App Store to new completion. As a result, Apple initially blocked iPhone web apps (Progressive Web Apps, or PWAs) in the E.U., likely fearing developers would abandon its App Store, before reversing that decision under regulatory pressure. For RevenueCat, however, the changes ahead for iOS — not to mention Apple's refusal to cut its default 15%-30% commission rate — mean there are now more developers who are looking to the web to monetize their apps. "It could be for progressive web apps or any kind of customer that wants to take payments outside of the
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