London-Based Paddle Secures $25M Funding From CIBC Innovation Banking

The funds will support its global expansion, speed up product development, and strengthen enterprise offerings. Paddle also announced new executive hires and the opening of a new office in Austin.

This comes after Paddle raised $293 million earlier from top investors like FTV Capital, KKR, 83North, and Notion Capital.

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Paddle acts as a Merchant of Record (MoR), handling payments, taxes, refunds, fraud protection, and compliance for over 6,000 SaaS, AI, and app companies—removing the need for complex payment systems.

With this setup businesses can grow faster and enter new markets more easily.

The new funding comes at a key moment as Paddle is seeing strong growth in 2025, driven by rising AI products and Apple’s support for web payments. With 40% yearly growth, Paddle is gaining serious momentum.

Jimmy Fitzgerald, CEO at Paddle said: 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.

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.

Led by CEO Jimmy Fitzgerald, a former ServiceNow executive, Paddle has brought in top talent to strengthen its leadership. New hires include Rich Mason as CRO International (ex-Shopify), Stephen Wilcock as CTO (a repeat tech CTO), and Ben Aronsten as CMO (formerly at Intercom and Shopify).

These leaders add deep experience to Paddle’s 300+ team, spread across London, Lisbon, Toronto, New York, and now Austin, where the company has just opened a new office.

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

In 2025, Paddle introduced new features by partnering with Vercel and integrating with RevenueCat, helping app developers manage subscriptions and earn from the web more easily.

Apple’s recent policy changes in the US and EU have sped up the move to web-based monetisation, increasing demand for Paddle’s solutions.

About Paddle

Paddle simplifies global payments for SaaS and digital product companies as a Merchant of Record—handling taxes, compliance, billing, and fraud. With built-in analytics, growth tools, and expert support, Paddle helps you scale faster and smarter. Trusted by 4,000+ companies and backed by top investors like KKR and FTV Capital.