E-commerce platform Paddle clinches $3.2m
21-year old founder who launched first business at 14 plans to ramp up sales and marketing efforts
Paddle, an e-commerce platform for small businesses, has landed $3.2m in Series A funding, led by BGF Ventures, with participation from Spring Partners.
Founded in 2012 by Young Gun Christian Owens – who founded his first business at 14 – Paddle helps app developers grow, monetise and build their businesses through a combination of analytics, payments and marketing tools.
The company claims to have grown at a rate of 350-400% for the last three years and currently works with around 400 business customers, helping with fraud prevention, checkout recovery and increasing revenues through customer feedback.
Having done no marketing to date, the funding will enable Paddle to scale up its sales and marketing efforts.
Owens commented: “As a developer myself, I didn’t want to have to deal with all of these distractions, I just wanted to build software. We know that this is a common problem for software businesses.
“We created Paddle to give them the tools they need so that they can have a first-class e-commerce operation and concentrate their efforts on making great products.”