London SaaS payments platform Paddle raises £52m
Posted on November 17, 2020 by Alistair Hardaker
London and New York based digital payments platform Paddle has raised $68m (£52 million) in Series C funding.
Paddle’s ‘Revenue Delivery Platform’ is built for for B2B SaaS firms, offering checkout, payment, subscription management, and financial compliance within a single platform.
Investors in the latest round including FTV Capital, Kindred Capital, Notion Capital, and 83North.
The new capital brings total investment in the UK-headquartered start-up to $93m (£72m).
Funding will be used for continued expansion in the US and globally, as well as further investments in the company’s product, engineering, sales and marketing teams.
Paddle was founded in 2012 by British co-founders Christian Owens and Harrison Rose, and is now to 140 employees strong.
Its Revenue Delivery Platform today serves over 2,000 software companies in 245 countries and territories globally.
Christian Owens, CEO and co-founder of Paddle, said: “The beauty of the SaaS model is that if you build a great product, you can sell it to anyone, anywhere in the world. Unfortunately, it is rarely that simple.
“We created Paddle because we’ve seen first hand the things that limit the growth of a SaaS company often have very little to do with the quality of your product. Dealing with payments, managing subscriptions, localising checkouts in multiple languages and handling tax and compliance across dozens of markets is hugely complex and each of these challenges makes it harder for businesses to scale quickly. “