Paddle raises $200 M in Series D to help SaaS firms expand globally

Paddle, a provider of entire payments infrastructure for SaaS firms, has raised $200 million in Series D equity and debt funding, valuing the company at $1.4 billion, making it the UK’s newest unicorn. 

The investment, led by KKR, a major global investment firm, takes Paddle’s total funding to $293 million, with participation from current investors FTV Capital, 83North, Notion Capital, Kindred Capital, and debt financing from Silicon Valley Bank.

Paddle will use this funding to accelerate the growth of its platform and to capitalise on the global market opportunity for a complete payment infrastructure provider for software firms, allowing them to scale and sell their products more quickly, with less risk and lower costs.

“The opportunity in software is enormous, with tens of thousands of incredibly innovative businesses bringing great products to market every year. Unfortunately, many SaaS companies still find their growth hindered by the operational challenges that arise when scaling; from handling subscriptions management or tax compliance to localizing payment options in every market. Paddle was created to remove these invisible barriers so that SaaS companies can just focus on building and selling software. 2021 was a fantastic year for us, but we are only just getting started. We have big plans for 2022 and beyond, and we’re delighted to have the backing of so many fantastic investors whom all share our vision.”

Christian Owens, CEO and co-founder of Paddle.

Over 3,000 software companies in more than 200 markets use Paddle‘s entire payments infrastructure. Paddle has more than doubled its revenue growth since November 2020, contributing to an impressive average annual revenue growth of over 175 percent over the last four years, thanks to a suite of new platform features and integrations. It includes the announcement of an alternative In-App Purchasing (IAP) system for iOS developers and rapid international expansion.

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