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- Paddle
Paddle Revenue, Valuation, Funding & Investors
Paddle is valued at $1.4B as of May 2022, a 18.7x multiple on its last reported $75M revenue.
Last Paddle valuation
$1.4B
Series D · May 2022
Last Paddle funding round
$200M
Series D · May 2022
Paddle revenue
$75M
Series D · May 2022
Key investors in Paddle
Kindred Capital
Notion Capital
Business Growth Fund
83North
FTV Capital
KKR
About Paddle
Paddle is a London-headquartered fintech platform serving as merchant of record for software companies worldwide. It manages subscription billing, global payments, sales tax compliance, VAT handling, and fraud prevention in over 200 countries. The service integrates with CRM systems, analytics tools, and developer platforms to streamline checkout flows and revenue recovery for SaaS providers.
Founded
2012
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Commission, Subscription
Revenue
$75M (May 2022)
Valuation
$1.4B (May 2022)
Paddle Valuation
Paddle is currently valued at $1.4B, based on its Series D in May 2022.
The $200M round was led by KKR, with participation from Kindred Capital, Notion Capital, 83North and FTV Capital.
Paddle valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| May 2022 | Series D | $1.4B | 18.7x |
Paddle Revenue
Paddle's latest recorded revenue is $75M, as of its Series D in May 2022. At a $1.4B valuation, that implies a 18.7x revenue multiple.
Paddle revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| May 2022 | $75M | $1.4B | 18.7x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Paddle Funding History
Paddle has raised a total of $293M across 6 funding rounds.
Paddle's first fundraising round was a $1M seed round in September 2014. The most recent completed round was a $200M Series D in May 2022.
Paddle funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2022 | Series D | KKR (lead); Kindred Capital; Notion Capital; 83North; FTV Capital | $200M | $1.4B | Paddle provides a complete payments infrastructure for SaaS companies, handling payments, tax compliance, and operations across multiple geographies to enable global sales. On May 10, 2022, Paddle raised $200 million in Series D equity and debt financing at a $1.4 billion valuation, becoming the UK's latest unicorn. The round was led by KKR with participation from existing investors FTV Capital, 83North, Notion Capital, and Kindred Capital, plus debt from Silicon Valley Bank, bringing total funding to $293 million. Paddle serves over 3,000 software companies in more than 200 markets worldwide, with recent launches including an alternative In-App Purchasing system for iOS developers and rapid international expansion. The company reported more than doubling revenue growth since November 2020, achieving over 175% average annual revenue growth over the last four years, though specific ARR or revenue figures were not disclosed. Paddle scaled its team from 140 to 275 employees across London and New York offices, planning further hires to support acceleration. KKR highlighted Paddle's role in reducing friction and costs for SaaS payments and tax compliance, enabling faster growth. No valuation multiples, EBITDA, or precise revenue metrics near the round date were stated in sources. Paddle's infrastructure positions it in the competitive SaaS payments space amid rising global regulatory complexity. |
| Nov 2020 | Series C | FTV Capital (lead); Kindred Capital; Notion Capital; 83North | $68M | - | Paddle is a revenue delivery platform for B2B SaaS companies, integrating checkout, payments, subscription management, tax compliance, and data tools to simplify global scaling, reduce operational friction, and boost net dollar retention. On November 17, 2020, Paddle raised $68 million in Series C funding led by FTV Capital, with participation from 83North, Kindred Capital, and Notion Capital, bringing total funding to $93 million. The capital supports US and global expansion, product development, engineering, sales, and marketing amid surging SaaS demand during the Covid-19 pandemic, particularly for remote collaboration tools like VPNs and video calling. Paddle reported average annual revenue growth exceeding 175% over the prior four years and revenue doubling in the year leading to the round, driven by powerful market shifts in the $105 billion SaaS sector. The platform enables SaaS firms to activate new business models, enter markets instantly, and handle complex payments, subscriptions, localization, and compliance across dozens of countries, freeing teams to focus on core growth. Paddle continued rapid scaling post-2020, more than doubling revenue growth by 2022 while expanding to over 3,000 customers in 200+ markets and growing headcount from 140 to 275. |
| Nov 2018 | Series B | Kindred Capital; Business Growth Fund; Notion Capital | $8M | - | Paddle raised $25 million in a Series B round in 2018 to scale operations and grow SaaS merchant adoption. Investors included Notion Capital, with participation from BGF Ventures and Kindred Capital. |
| Dec 2017 | Series B | Notion Capital (lead); Kindred Capital; Business Growth Fund; MacPaw | $13M | - | Paddle raised $12.5 million in a funding round on December 14, 2017, led by Notion Capital, with participation from existing investors BGF Ventures and Kindred Capital, and new investor MacPaw. This Series B round followed a $3.2 million Series A the previous year, bringing total funding to over $17 million at the time. Notion partner Chrys Chrysanthou and MacPaw CEO Oleksandr Kosovan joined Paddle’s board post-investment. Paddle provides a platform for software companies to manage the entire sales process, including trials and licenses, payments, taxes, analytics on transactions, app usage, crashes, conversions, customer behavior, and reporting. The company, based in London with 40 employees, planned to expand to 100 by end of 2018, with two-thirds of hires in product and engineering, and invest in product development for deeper insights and marketing integrations. This funding built on Paddle’s acquisition of MacPaw’s DevMate platform earlier that year. |
| Sep 2016 | Series A | Business Growth Fund (lead); Kindred Capital; Fuel Ventures | $3M | - | Paddle announced a $3.2 million Series A funding round led by Business Growth Fund in September 2016. The round included participation from additional investors including Kindred Capital. At the time of this Series A, Paddle was an e-commerce platform designed to help software businesses manage billing, payments, and subscriptions. The company had been founded in 2012 by Christian Owens and Harrison Rose and was operating across multiple countries. Paddle would go on to achieve significant growth, eventually raising $200 million at a $1.4 billion valuation in its Series D round in May 2022, demonstrating the strong trajectory that began during this early-stage financing. |
| Sep 2014 | Seed | - | $1M | - | - |
Who has invested in Paddle?
8 investors have backed Paddle across its funding rounds, including Kindred Capital, Notion Capital, Business Growth Fund, 83North, FTV Capital and KKR.
Lead investors include KKR, FTV Capital, Notion Capital and Business Growth Fund.
Paddle Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Participant | Sep 2016 | ||
| 4 | Lead | Dec 2017 | ||
| 3 | Lead | Sep 2016 | ||
| 2 | Participant | Nov 2020 | ||
| 2 | Lead | Nov 2020 | ||
| 1 | Lead | May 2022 | ||
This data is available for Pro users. Sign up to see all 8 Paddle investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Paddle
Paddle has acquired 2 companies to date.
Last acquisition by Paddle was on May 25th 2022. Paddle acquired ProfitWell for $200M.
Latest Acquisitions by Paddle
| Description | ProfitWell is a Washington D.C.-headquartered provider of business intelligence tools for subscription companies, acquired by Paddle in 2021. Its suite includes metrics tracking, churn reduction strategies, and revenue recognition services to boost retention and monetization. | DevMate is a monetization and analytics platform for Mac application developers created by MacPaw Inc. Kyiv-based MacPaw leverages its experience from apps like CleanMyMac to offer tools for selling outside the App Store, delivering updates, trial versions, bundles, and beta testing with crash reporting. The platform provides detailed sales analytics and integrates with payment processors for in-app purchases and subscriptions. DevMate supports thousands of indie developers distributing software globally. |
| HQ Country | ||
| HQ City | Boston, MA | San Jose, CA |
| Deal Date | 25 May 2022 | 23 May 2017 |
| Valuation | $200M | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Paddle acquisitions and their M&A valuation multiples. Start Free Trial | ||
Paddle Competitors
Paddle competitors include listed companies like Infomart and Deluxe, and private ones like Codat, Route, Yotpo and Weidian Group.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $825M | - | ||
| Private | - | - | $1.4B | - | ||
| Private | $100M | - | $1.4B | 14.0x | ||
| Private | - | - | $1.4B | - | ||
| Publicly listed | $121M | $31M | $1.2B | 8.6x | ||
| Publicly listed | $2.1B | $379M | $1.1B | 1.2x |
Paddle Public Comps
Paddle is still privately-owned, but its public comps include Fawry, PicPay, Infomart, Lightspeed Commerce, Evertec, Deluxe, Rezolve AI, Shiprocket, GigaCloud Technology and Hangzhou Raycloud Tech.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $166M | $73M | 6.8x | 5.2x | 15.4x | 9.6x | |||
| $1.2B | $205M | 1.0x | 0.5x | 6.0x | 3.8x | |||
| $121M | $31M | 9.3x | 8.6x | 35.9x | 31.7x | |||
| $1.2B | ($13M) | 0.7x | 0.7x | (65.4x) | 11.0x | |||
| $932M | $330M | 3.0x | 2.7x | 8.6x | 6.8x | |||
| $2.1B | $379M | 1.2x | 1.2x | 6.7x | 5.6x | |||
| $47M | ($109M) | 23.3x | 4.0x | (10.0x) | (19.3x) | |||
| $211M | ($7M) | 4.3x | - | (131.1x) | - | |||
This data is available for Pro users. Sign up to see all Paddle competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Paddle
| When was Paddle founded? | Paddle was founded in 2012. |
| Where is Paddle headquartered? | Paddle is headquartered in London, United Kingdom. |
| Is Paddle publicly listed? | No, Paddle is a private, VC-backed company. |
| What is Paddle's valuation? | Paddle was last valued at $1.4B in its Series D in May 2022. |
| How much funding has Paddle raised? | Paddle has raised $293M across 6 funding rounds. |
| What was Paddle's last funding round? | Paddle's last funding round was a $200M Series D in May 2022, led by KKR. |
| Who are Paddle's investors? | Paddle's investors include Kindred Capital, Notion Capital, Business Growth Fund, 83North, FTV Capital, KKR, Fuel Ventures and MacPaw. |
| What is Paddle's revenue? | Paddle's latest recorded revenue is $75M (May 2022). |
| What is Paddle's revenue multiple? | Paddle's latest valuation implies a 18.7x revenue multiple ($1.4B valuation on $75M of revenue). |
| Which companies are comparable to Paddle? | Companies comparable to Paddle include Codat, Route, Yotpo, Weidian Group, Infomart and Deluxe. |
| How many companies has Paddle acquired? | Paddle has acquired 2 companies, including ProfitWell and DevMate. |
| What was the largest acquisition by Paddle? | The $200M acquisition of ProfitWell in May 2022 is the largest acquisition Paddle has made to date. |
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