Software Startup Paddle Brings In $12.5 Million

Paddle, a UK-based developer that offers software companies a single platform for the entire software sales process, closed $12.5 million in Series B financing, led by Notion Capital, with participation from BGF Ventures, MacPaw, and Kindred.

Developers and software companies use Paddle’s checkout and licensing solution to sell their products globally, as well as its analytics and marketing tools to understand and expand their businesses. Paddle was recognized by Deloitte UK Fast 50 as the “fastest growing software company in the UK,” and ranked 6th in tech overall, having grown its revenue by over 3,000 percent in the last three years.

The funding will be used to scale its team, iterate on its existing platform, and invest in new features.