FinTech Journey Of Success: London-based Payment Infrastructure Provider, Paddle

Paddle is a FinTech firm providing Software as a service (SaaS) organizations with an entirely new method for structuring their payment infrastructure. They are a Merchant of Record for their users and not a complex stack of services and applications that deal with payments.

Company Overview: 

• Paddle was founded in the year 2012.
• Headquartered in London, England, United Kingdom.
• Founders:
  • Christian Owens, as the company’s Chief Executive Officer (CEO);
  • Harrison Rose, as the company’s Chief Customer Officer;
• Team:
  • Jimmy Fitzgerald, as the President and COO;
  • Hugo Grimston, as the CFO;
  • Maryam Ziarati McLoughlin, as the General Counsel;
  • Andre Vella, as the CTO;
  • Julika Loecklin, as the VP, Customer Success;
  • Michal Gondar, as the Director of Engineering;
  • Andrew Davies, as the Chief Marketing Officer;
• Board Members:
  • Laurel Bowden;
  • Kyle Griswold;
  • Chrysanthos Chrysanthou;
  • Stephen Chandler;
• Paddle acquired ProfitWell on May 25, 2022, for around 160 Million Pound Sterling (GBP), and DevMate on May 23, 2017.
• The firm has had ten fundraising rounds, where it managed to raise a sum total of around 293.3 Million US Dollars.

Company Expertise:

• Application Licensing, 
• E-Commerce, 
• Software Development Kit (SDK), 
• Analytics, 
• Developer Tools, 
• Tax Compliance,
• In-app Purchases, 
• Checkout, 
• Customer Service, 
• Software as a service (SaaS), 

Fundraising Rounds and Investors:

• In the month of June 2012, the company had its Seed funding round, where it raised around 150 Thousand Pound Sterling (GBP).

 

• In the month of September 2014, the company had another Seed funding round, where it raised around 1.4 Million US Dollars.

 

• In the month September 2016, the company had its Series A round of funding, where it raised around 3.2 Million US Dollars. The investors of this round were:
  • The london-based investment company, Business Growth Fund (BGF);
  • Mark Pearson, as an angel investor;
  • London-based Venture Capital (VC) firm, Kindred Capital; 

 

• In the month of January 2017, the company had its Support Program funding round. The investor of this round was:
  • London-based growth platform, Tech Nation;

 

• In the month of November 2017, the company had another Series A round of funding, where it raised around 8 Million Pound Sterling (GBP). The investors of this round were:
  • London-based Venture Capital (VC) firm, Notion Capital;
  • The london-based investment company, Business Growth Fund (BGF);
  • The California-based software development company, MacPaw;
  • London-based Venture Capital (VC) firm, Kindred Capital; 

 

• In the month of March 2018, the company had its Support Program funding round. The investor of this round was:
  • London-based growth platform, Tech Nation;

 

• In the month of November 2018, the company had its Series B round of funding, where it raised around 8 Million US Dollars. The investors of this round were:
  • London-based Venture Capital (VC) firm, Notion Capital;
  • A london-based investment company, Business Growth Fund (BGF);
  • London-based Venture Capital (VC) firm, Kindred Capital; 

 

• In the month of November 2020, the company had its Series C round of funding, where it raised around 68 Million US Dollars. The investors of this round were:
  • London-based Venture Capital (VC) firm, Notion Capital;
  • London-based Venture Capital (VC) firm, 83North;
  • California-based growth equity firm,  FTV Capital;
  • London-based Venture Capital (VC) firm, Kindred Capital;

 

• In the month of May 2022, the company has its Debt financing round. The investor of this round was:
  • California-based commercial bank, Silicon Valley Bank;

 

• In the month of May 2022, the company had its Series D round of funding, where it raised around 200 Million US Dollars. The investors of this round were:
  • New York-based private equity firm, Kohlberg Kravis Roberts or KKR;
  • London-based Venture Capital (VC) firm, Notion Capital;
  • London-based Venture Capital (VC) firm, 83North;
  • California-based growth equity firm,  FTV Capital;
  • London-based Venture Capital (VC) firm, Kindred Capital;

The paddle has created a revenue delivery infrastructure for enterprises, especially those in the Software-as-a-Service (SaaS) industry. In the last 10 years, SaaS has grown rapidly, but the infrastructure for data governance, payments, and compliance has found it difficult to keep up. By handling routine operations like subscriptions and renewals, as well as billing and currency conversion, the firm hopes to reduce the friction associated with scaling SaaS businesses.

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