Paddle, a leading Merchant of Record for digital products, has raised $25 million from CIBC Innovation Banking to support global expansion and product development. This funding follows a total of $293 million in previous investments from firms such as FTV Capital and KKR.
Paddle simplifies payments, sales tax, refunds, and compliance for over 6,000 SaaS, AI, and app companies, enabling faster scaling and market entry. The company is projected to grow 40% year-over-year in 2025, driven by the introduction of new AI products and Apple’s web payments ecosystem.
CEO Jimmy Fitzgerald has strengthened the team with new hires: Rich Mason as Chief Revenue Officer International, Stephen Wilcock as Chief Technology Officer, and Ben Aronsten as Chief Marketing Officer. Paddle now has over 300 team members across offices in London, Lisbon, Toronto, New York City, and Austin.
This year, Paddle enhanced its offerings through a partnership with Vercel and integration with RevenueCat, streamlining monetization and subscription management. Recent policy changes by Apple have further highlighted Paddle’s role in helping digital product companies discover new revenue streams.
KEY QUOTES:
“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.”
Jimmy Fitzgerald, CEO at Paddle
“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.”
Sean Duffy, Managing Director of CIBC Innovation Banking UK & Europe
