diff --git a/CHANGELOG.md b/CHANGELOG.md
index b2f8d692d..b7d4a297c 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,17 @@
 # Changelog
 
+## 12.1.0 - 2023-08-31
+* [#1560](https://github.com/stripe/stripe-php/pull/1560) Update generated code
+  * Add support for new resource `AccountSession`
+  * Add support for `create` method on resource `AccountSession`
+  * Add support for new values `obligation_inbound`, `obligation_outbound`, `obligation_payout_failure`, `obligation_payout`, `obligation_reversal_inbound`, and `obligation_reversal_outbound` on enum `BalanceTransaction.type`
+  * Change type of `Event.type` from `string` to `enum`
+  * Add support for `application` on `PaymentLink`
+* [#1562](https://github.com/stripe/stripe-php/pull/1562) Nicer ApiErrorException::__toString()
+* [#1558](https://github.com/stripe/stripe-php/pull/1558) Update generated code
+  * Add support for `payment_method_details` on `Dispute`
+  * Add support for `prefetch` on `FinancialConnections.Session`
+
 ## 12.0.0 - 2023-08-18
 **⚠️ ACTION REQUIRED: the breaking change in this release likely affects you ⚠️**
 
diff --git a/VERSION b/VERSION
index 4044f9086..77903b35f 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-12.0.0
+12.1.0
diff --git a/lib/Stripe.php b/lib/Stripe.php
index 9b82c9000..20b3b119a 100644
--- a/lib/Stripe.php
+++ b/lib/Stripe.php
@@ -58,7 +58,7 @@ class Stripe
     /** @var float Initial delay between retries, in seconds */
     private static $initialNetworkRetryDelay = 0.5;
 
-    const VERSION = '12.0.0';
+    const VERSION = '12.1.0';
 
     /**
      * @return string the API key used for requests