Paddle raises $200m in Series D funding led by KKR to scale its payments platform
The Series D round values the payments infrastructure provider at $1.4bn and includes participation from several existing investors.
Paddle provides a complete payments infrastructure and acts as a merchant of record for software companies worldwide. The platform integrates checkout, subscription management, invoicing, and tax compliance processes.
London-based payments infrastructure provider Paddle has secured $200m in equity and debt financing, valuing the business at $1.4bn and making it the UK's latest unicorn. The Series D round was led by KKR, with participation from existing backers including FTV Capital, 83North, Notion Capital, and Kindred Capital, alongside debt financing from Silicon Valley Bank.
Founded in the UK, Paddle will direct the fresh capital towards accelerating its international expansion and strengthening its platform capabilities. The company has experienced rapid growth as software businesses increasingly seek out unified solutions to manage payments, subscriptions, and tax compliance across multiple jurisdictions.
From the founder
"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. 2021 was a fantastic year for us, but we are only just getting started. 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."
Christian Owens
CEO and co-founder at Paddle
Investor perspective
"Paddle is solving a significant pain point for thousands of SaaS companies by reducing the friction and costs associated with managing payments infrastructure and tax compliance. By simplifying the payments stack, Paddle enables faster, more sustainable growth for SaaS businesses. Christian and the team have done a phenomenal job building a category-defining business in this space, and we are excited to be supporting them as they embark on the next phase of growth."
Patrick Devine
Managing Director, KKR
Use of funds
- 01Expand into international markets
