Paddle raises $3.2m in Series A funding led by BGF Ventures to expand its teams
The Series A round was led by BGF Ventures with participation from Spring Partners.
≈ £2.5M at $1 = £0.7713 on 29 Sep 2016
Paddle operates an e-commerce platform that helps software businesses manage global sales, checkout processes, sales tax, and customer support.
Software e-commerce platform Paddle has secured $3.2m in a Series A funding round led by BGF Ventures, with participation from Spring Partners. The company plans to deploy the capital to expand its engineering and sales teams.
Founded in 2012, the firm provides digital businesses with infrastructure for handling global transactions, checkout flows, and compliance tasks such as sales tax. The business previously received early backing from investors including Mark Pearson and Mark Evans.
BGF Ventures led the investment, citing the firm's comprehensive suite of tools for software vendors.
From the founder
"We’ve been growing really fast over the last two years, and are planning to invest to continue this growth. We’re roughly doubling the size of our engineering and sales teams over the coming months to keep up with growth."
Christian Owens
Founder at Paddle
Investor perspective
"Paddle provides a complete suite of integrated tools that I think of as ‘Shopify for software’. To put it crudely, in the software goldrush, we believe Paddle makes the best shovels, or, er, paddles."
Harry Briggs
partner, BGF Ventures
Use of funds
- 01Grow the team
