Total amount raised
$293.3 Millions
Latest funding date
5/1/2022
Location
Paddle has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The company offers a comprehensive payments infrastructure tailored for SaaS and digital products.
Continue reading to delve into the details of Paddle's funding journey and the key investors supporting this innovative platform.
What Is Paddle?
Paddle, founded in 2012 by Christian Owens and Harrison Rose, is headquartered in London, England. The company specializes in providing a comprehensive payments infrastructure tailored for SaaS and digital products.
With a team of 251-500 employees, Paddle simplifies the payments process by acting as a Merchant of Record for its customers. This approach eliminates the complexity of managing multiple payments-related apps and services.
For more information, you can visit their official website or check out their Crunchbase profile.
How Much Funding Has Paddle Raised?
- Seed Round
- Amount Raised: $150K
- Date: June 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the core product and establish the company.
- Seed Round
- Amount Raised: $1.4M
- Date: September 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: $3.2M
- Date: September 2016
- Lead Investors: Business Growth Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and market expansion.
- Series B
- Amount Raised: $12.5M
- Date: December 2017
- Lead Investors: Notion Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand into new markets.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: March 2018
- Lead Investors: Future Fifty
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain strategic support and resources for scaling the business.
- Series B
- Amount Raised: $8M
- Date: November 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and enhance product offerings.
- Series C
- Amount Raised: $68M
- Date: November 2020
- Lead Investors: FTV Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand the platform's capabilities.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: May 2022
- Lead Investors: Silicon Valley Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and operational needs.
- Series D
- Amount Raised: $200M
- Date: May 2022
- Lead Investors: Kohlberg Kravis Roberts
- Valuation at Round: $1.4B
- Motivation Behind the Round: To supercharge growth and expand into new areas like in-app payments.
Paddle has raised a total of $293M with a current valuation of $1.4B.
Key Investors
- Notion Capital
- Details: Notion Capital is a venture capital firm that invests in enterprise software and SaaS companies. They focus on early to growth-stage investments.
- Investment Focus Areas: SaaS, Cloud Computing, FinTech, B2B
- Notable Investments: Tradeshift, GoCardless, Currencycloud
- Kohlberg Kravis Roberts (KKR)
- Details: KKR is a global investment firm managing multiple alternative asset classes, including private equity, energy, infrastructure, real estate, and credit. They are known for their significant investments in various sectors.
- Investment Focus Areas: Private Equity, Energy, Infrastructure, Real Estate, Credit
- Notable Investments: ByteDance, Epic Games, GoDaddy
- FTV Capital
- Details: FTV Capital is a growth equity investment firm that partners with high-growth companies. They focus on enterprise technology and services, financial services, and payments and transaction processing.
- Investment Focus Areas: Enterprise Technology, Financial Services, Payments, Transaction Processing
- Notable Investments: InvestCloud, VPay, Strata Fund Solutions
- Kindred
- Details: Kindred is a venture capital firm that invests in early-stage technology companies. They aim to support innovative startups with strategic guidance and financial backing.
- Investment Focus Areas: Early-Stage Technology Companies, SaaS, Marketplaces
- Notable Investments: Farewill, FiveAI, Pollen
- 83North
- Details: 83North is a global venture capital firm that invests in European and Israeli entrepreneurs. They support technology companies across various stages of growth.
- Investment Focus Areas: Enterprise Software, FinTech, Consumer Internet
- Notable Investments: iZettle, Just Eat, Mirakl
What's Next for Paddle?
Paddle is poised to seize significant opportunities in the SaaS market, particularly with its expansion into in-app payments and the growing demand for comprehensive billing solutions. With over 3,000 software customers in 200 markets and 2,000 developers signed up for its in-app payment service, the potential for growth is substantial. The SaaS sector, valued at $397 billion in 2021, is expected to reach $692 billion by 2025, providing a fertile ground for Paddle's services.
Future fundraising efforts could be aimed at further expanding their market reach and enhancing their product offerings. The recent $200 million Series D round, led by KKR, sets a strong foundation for additional rounds to support international expansion and new service development. However, Paddle may face challenges such as navigating international tax regulations, competing with established payment service providers, and managing rapid growth effectively.
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