Paddle Billing
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Today, we’re excited to announce our $200m in Series D financing at a valuation of $1.4bn – making Paddle the UK’s latest unicorn.
The round was led by KKR, a leading global investment firm, with participation from our existing investors FTV Capital, 83North, Notion Capital, Kindred Capital and debt financing from Silicon Valley Bank, and brings the total we’ve raised to date to $293m.
2021 was a fantastic year for us, but we are only just getting started. We exist to help SaaS businesses overcome the operational challenges that arise when scaling; from handling subscriptions management or tax compliance to localizing payment options in every market. We have big plans for 2022 and beyond and we’re delighted to have the backing of so many fantastic investors who all share our vision.
Complete payment infrastructure for software companies
This investment will help us to strengthen the growth of the Paddle platform and to meet the market opportunity that exists for a complete payment infrastructure provider for software companies globally.
SaaS companies are experiencing a period of sustained growth, a trend that was accelerated by the surge in software during the Covid-19 pandemic and is set to continue as businesses and consumers become ever more used to using digital tools like Zoom to communicate, Miro to collaborate, or Canva to create. The SaaS industry, which was worth $397 billion in 2021, is expected to grow to $692 billion in 2025.
SaaS companies now have an incredible opportunity to compete and sell their products in any market in the world, but to do so they must also manage payments and operations across multiple geographies and navigate an increasingly complex web of local and international tax and data regulations.
By integrating checkout, payment, subscription management, invoicing, international taxes, and financial compliance processes, Paddle offers SaaS companies a completely different approach to payments infrastructure. Instead of assembling and maintaining a complex stack of payments-related apps and services, Paddle acts as a merchant of record for its customers. This enables software companies to activate new business models and enter new markets faster, more easily and with fewer operational and compliance issues.
