Paddle raises $200m Series D round at unicorn valuation

UK-based Paddle, which provides payments infrastructure for software companies, has secured $200 million in a Series D round led by KKR.

Paddle secures $200m funding

The funding takes the fintech’s valuation up to $1.4 billion, making it the UK’s latest unicorn. The firm has now raised $293 million in total funding to date.

Other contributors to the round include existing investors FTV Capital, 83North, Notion Capital and Kindred Capital. The Series D also includes debt financing from Silicon Valley Bank.

Paddle helps Software-as-a-Service (SaaS) businesses overcome operational challenges as they scale – from handling subscriptions and tax compliance to providing localised payment options in all markets.

The firm says the new money will be put towards strengthening its platform as it aims to become a “complete” payment infrastructure provider for SaaS companies around the world.

Paddle integrates checkout, payment, subscription management, invoicing, international taxes and financial compliance processes under one platform, acting as a “merchant of record” for its customers.

“This enables software companies to activate new business models and enter new markets faster, more easily and with fewer operational and compliance issues,” says Christian Owens, founder and CEO of Paddle.