UK fintech Paddle has secured $25m (£18.6m) of funding from CIBC Innovation Banking to fuel its international expansion plans.
The Merchant of Record services provider is preparing for a period of significant growth with a handful of executive hires made and upcoming plans to open an office in Austin, Texas.
The new funding comes three years after the fintech’s $200m (£149m) Series D round that included investment from Notion Capital, KKR and others.
“We are incredibly excited about the momentum Paddle has experienced so far in 2025. We only win when those we serve win, and the growth we’re seeing across the market reflects that shared success,” said chief executive Jimmy Fitzgerald.
“We look forward to building on these achievements through the rest of the year and beyond as we continue to serve thousands of digital product companies worldwide.”
Founded in 2012, Paddle provides SaaS businesses with payment processing, tax compliance, fraud prevention and subscription management services.
“We are delighted to fund Paddle as it continues on an impressive growth trajectory,” said Sean Duffy, managing director of CIBC Innovation Banking UK and Europe.
“In an ever-connected world, it’s important that digital product companies can receive payment from customers in any location without the hassle of navigating multiple payment processes in different geographies.”
Though the fintech is embarking on an ambitious growth plan, 2025 has not been entirely smooth sailing for the company.
Earlier this year the firm was accused of violating consumer protection laws by an unnamed government agency. Reports of the complaint emerged as Paddle posted its most recent accounts, for 2023, revealing expanded losses.
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