Paddle’s $200 Million Series D Financing

Wilson Sonsini Goodrich & Rosati advised Paddle on the deal. Willkie Farr & Gallagher advised FTV Capital, 83North, Notion Capital and Kindred Capital.

Paddle, the provider of a complete payments infrastructure for SaaS companies, announced it had raised $200 million in Series D equity and debt financing at a valuation of $1.4 billion, making it the UK’s latest unicorn. Led by KKR, a leading global investment firm, with participation from existing investors FTV Capital, 83North, Notion Capital, Kindred Capital, and debt financing from Silicon Valley Bank, the investment brings the total Paddle has raised to date to $293 million.

Paddle will use this investment to strengthen the growth of its platform and to meet the market opportunity that exists for a complete payment infrastructure provider for software companies globally, which will assist in enabling them to scale and sell their products faster, with less risk and lower costs.

FTV Capital is a sector-focused growth equity investment firm that has raised $6.2 billion to invest in high-growth companies offering a range of innovative solutions in three sectors: enterprise technology and services, financial services, and payments and transaction processing. 

83North is a global venture capital firm with over $1 billion under management.

Notion Capital is a venture capital firm focused on European SaaS and Cloud companies.

Kindred is an early stage venture capital fund based in London.

The Wilson Sonsini team that advised Paddle on the transaction included: Daniel Glazer (Picture), Michael Labriola, Diviya Padman, Betty Rosenbaum, Joshua Gruenspecht, Stephen Heifetz, Jonathan Davey, Nimit Dhir, Anne Seymour and Liam Boylan.

The Willkie team was led by partner Gavin Gordon and included associates Amelia Doughty, Meghal Mehta and Daniel Mulligan and trainee solicitor Anthony Otobo-Martins.

Involved fees earner: Amelia Doughty – Willkie Farr & Gallagher; Gavin Gordon – Willkie Farr & Gallagher; Meghal Mehta – Willkie Farr & Gallagher; Daniel Mulligan – Willkie Farr & Gallagher; Liam Boylan – Wilson Sonsini Goodrich & Rosati; Jonathan Davey – Wilson Sonsini Goodrich & Rosati; Nimit Dhir – Wilson Sonsini Goodrich & Rosati; Diviya Padman – Wilson Sonsini Goodrich & Rosati; Daniel Glazer – Wilson Sonsini Goodrich & Rosati; Joshua Gruenspecht – Wilson Sonsini Goodrich & Rosati; Stephen Heifetz – Wilson Sonsini Goodrich & Rosati; Michael Labriola – Wilson Sonsini Goodrich & Rosati; Betty Rosenbaum – Wilson Sonsini Goodrich & Rosati; Anne Seymour – Wilson Sonsini Goodrich & Rosati;

Law Firms: Willkie Farr & Gallagher; Wilson Sonsini Goodrich & Rosati;

Clients: 83North Ltd.; FTV Capital; Kindred Capital; Notion Capital; Paddle;

Martina Bellini

Author: Martina Bellini