Paddle, London Raises £52m to Help Saas Companies
UK startup Paddle raises £52million in Series C funding.
11:06 19 November 2020
Paddle, a UK startup specialising in providing a single platform for the entire software sales process, has recently raised £52million in Series C funding led by FTV capital. Other companies that have participated include Kindred Capital, 83 North and Notion Capital. To date, the firm has raised a total of £72million.
The firm has confirmed that the latest funding will be invested in its product, engineering, sales and marketing teams and for the company's global expansion.
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.”
Paddle's unified platform makes it hassle-free for SaaS companies to respond faster and more precisely to every growth opportunities for their business. It integrates checkout, payment, subscription management and financial compliance. This approach helps businesses free up teams so they can focus on the core business rather than operational headaches.