rewrite this title Paddle Raises $25 Million for Payments Infrastructure – Finovate

Paddle raised $25 million in debt financing to support global expansion, product development, and executive growth.

The funds, which come from CIBC Innovation Banking, bring Paddle’s total funding to $318 million.

Along with the investment announcement, Paddle also unveiled new hires and plans to open an office in Austin.

Payments infrastructure company Paddle announced this week it has raised $25 million in debt financing from CIBC Innovation Banking and others. The investment, which follows a $293 million round in 2022 from FTV Capital, KKR, 83North, and Notion Capital, brings Paddle’s total funding to more than $318 million.

“We are delighted to fund Paddle as it continues on an impressive growth trajectory,” said CIBC Innovation Banking UK & Europe Managing Director Sean Duffy.

Paddle plans to use the funding to support global expansion, accelerate growth, and promote product development.

Paddle was founded in 2012 as a Merchant of Record (MoR) to handle payments, sales tax, refunds, fraud, and compliance for its clients. The UK-based company’s payment infrastructure replaces SaaS companies’ complex payment stacks by managing global payments, currencies, refunds, and sales tax compliance for 6,000 SaaS, AI, and app companies.

Along with today’s funding, Paddle also announced key executive hires. The company is adding to its 300+ employees with the appointments of Rich Mason as CRO International, Stephen Wilcock as CTO, and Ben Aronsten as CMO. Paddle is also opening a new office in Austin, adding to the company’s existing offices in London, Lisbon, Toronto, and New York City. 

“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. We are excited to support Paddle as it continues expanding its global footprint,” Duffy added.

Paddle has seen rapid growth in 2025, which it attributes to growth in new AI products and Apple opening its app ecosystem to web payments. The company has also recently unveiled new capabilities through a partnership with Vercel and integration with RevenueCat. Previously, the company has experienced 40% year-over-year growth and these factors will build on that.

“We are incredibly excited about the momentum Paddle has experienced so far in 2025,” said Paddle CEO Jimmy Fitzgerald. “We only win when those we serve win, and the growth we’re seeing across the market reflects that shared success. We are seeing a huge increase in the number of consumer app businesses choosing Paddle to manage their web monetization, and will continue to invest in this space with the new financing and strengthened leadership. 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.”

Paddle’s growth and fresh funding is an indication that SaaS and digital product companies are taking a new approach to global payments. As Gen AI and mobile-first implementation accelerate, companies need flexible infrastructure that handles compliance, tax, and localization without adding complexity. Paddle’s MoR approach is emerging as an alternative to fragmented payment stacks, especially as regulations tighten. Ultimately, today’s funding round and executive expansion show how Paddle is positioning itself not just as a payment provider, but as a strategic player in SaaS payments.

Photo by Andre Furtado

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