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Wednesday 11 May 2022

Paddle rides the payments wave to Unicorn status

Paddle logoUK payments provider Paddle has been valued at more than £1bn following its latest fund raising. The fintech secured $200m in Series D equity and debt financing as it looks to further develop its payments infrastructure proposition. The latest investment was led by KKR and supported by a variety of existing investors bringing the total raised to date to just under $300m.

ChristianOwensPaddle was founded in 2012 by the firm’s 27 year-old CEO, Christian Owens, who dropped out of school as a teenager to pursue his ambitions. The company’s offering is targeted at SaaS companies and manages the process around customer payments, tax administration and regulatory compliance.

The Paddle platform is now used by more than 3k software firms worldwide, supported by a team of 275 staff out of London and New York. The fintech intends to use the latest cash injection to expand its operations and to invest further in the development of its platform.

Paddle’s early development has echoes of the phenomenal success of Stripe and the Collinson brothers from Limerick in Ireland (see: $95bn Valuation for Stripe). Whilst its perhaps easy to take this sort of story for granted these days, it’s probably worth pausing for a moment to celebrate the UK's latest fintech “Unicorn” and to reflect on some of the more traditional perceptions of teenagers.

Posted by: Jon C Davies at 09:42

Tags: funding  

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