Young Gun-founded Paddle scoops $12.5m worth of Series B funding

The fresh funds will help the London-based e-commerce platform for software businesses rapidly grow its team, and accelerate product development

Paddle, an e-commerce platform for software businesses, has raised $12.5m worth of Series B funding.

Led by Notion Capital, the investment round also included existing backers BGF Ventures and Kindred Capital, as well as MacPaw – the software company Paddle merged with earlier on this year.

Founded by Young Gun Christian Owens back in 2012 when he was just 18, the start-up has added to its Series A raise of $3.2m, which it completed back in September 2016.

The fresh funds will help the London-based businesses rapidly grow its team, and accelerate product development.

Providing toolkits to help app developers grow, monetise and build their business through a combination of analytics, payments, communications and marketing elements, Paddle’s streamlined offering is used by over 500 small businesses.

All tools are available in a single dashboard, enabling developers to understand their users, take payments, engage with customer support and grow without the hassle and cost of implementing lots of different services.

Christian Owens, CEO and founder of Paddle, said:

“At Paddle, we are on a mission to fundamentally change the way that software companies sell their products.

“Software vendors of all sizes have put up with a fragmented approach to selling their products for years

“We believe that Paddle has overcome these problems by creating a powerful unified commerce platform, and that we are poised to continue our rapid and exciting growth.”

Oleksandr Kosovan, founder of MacPaw and Paddle board member, said:

“Building exceptional products takes a lot of effort, and a clear focus on every step of the customer journey.

“MacPaw’s mission is to improve and perfect user experience within products, however there have long been limited opportunities to control the entire flow, and deliver the best checkout experience.

“We are really excited to join Paddle in their effort towards building a new and effective method of selling software products online.”