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Paddle becomes the UK's latest tech unicorn on $200 million funding round

Paddle becomes the UK's latest tech unicorn on $200 million funding round

Paddle, the provider of payments infrastructure for SaaS companies, has raised $200m in Series D equity and debt financing at a valuation of $1.4bn, making it the UK’s latest unicorn.

Led by KKR with participation from existing investors FTV Capital, 83North, Notion Capital, Kindred Capital, and debt financing from Silicon Valley Bank, the investment brings the total Paddle has raised to date to $293m.

By integrating checkout, payment, subscription management, invoicing, international taxes and financial compliance processes, Paddle acts as a merchant of record for its customers, enabling sellers to activate new business models and enter new markets faster with fewer operational and compliance issues.

Paddle’s complete payments infrastructure is used by over 3,000 software companies in more than 200 markets worldwide. The company has more than doubled its revenue growth since November 2020, contributing to an impressive average annual revenue growth of over 175% over the last four years. It has also scaled its team from 140 to 275 across offices in London and New York, with more hires expected to match its acceleration as a business.

Christian Owens, CEO and co-founder of Paddle, said: “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.”

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