UK startup Paddle, a revenue delivery platform for B2B SaaS companies, today announces it has raised approx €57 million in Series C funding. The round was led by FTV Capital, with participation from Kindred Capital, Notion Capital and 83 North. This brings the total investment raised to date by Paddle to around €80 million. The 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 co-founders Christian Owens and Harrison Rose, with a vision of providing a complete solution to help software companies sell their products. The Paddle team has grown to 140 employees, and Paddle’s ‘Revenue Delivery Platform’ today serves over 2,000 software companies in 245 countries and territories globally, empowering them to respond to every growth opportunity across customer acquisition, renewals and expansion.
Paddle’s platform makes it easy for SaaS companies to respond faster and more precisely to every growth opportunity for their business. A single unified platform, Paddle integrates checkout, payment, subscription management, and financial compliance, meaning sellers on the platform can activate new business models instantly, enter new markets with ease, turn on new offerings with one-click, and enable friction-free renewals. This modern approach to revenue delivery empowers CEOs to make informed business decisions quickly and confidently, and frees up teams to focus on the core business rather than operational headaches.
Paddle has seen incredible demand to date, recording an average annual revenue growth of over 175% over the last four years and doubling in the last year alone.
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. Our Revenue Delivery Platform has been built to remove all of this friction for B2B SaaS companies, empowering them to increase NDR by responding faster to every growth opportunity. We’re excited to continue our own growth with this investment and look forward to maintaining momentum in the months and years ahead.”
Kyle Griswold, partner, who led the investment for FTV Capital, added: “We are witnessing a systemic shift within software, with the ‘growth at any cost’ mindset gradually being replaced by a realisation that businesses must scale more efficiently and with clearer purpose. We’ve been extremely impressed with Christian and Harrison’s ambition and Paddle’s growth to date and we believe they are defining a new category with Paddle’s Revenue Delivery Platform – one that will be critical to helping companies adapt to change while empowering them to take advantage of the huge acceleration in demand for digital products. With more than two decades investing in the SaaS and payments sectors, FTV will bring the best of our domain expertise to accelerate Paddle’s exciting growth.”