This investment will help us to strengthen the growth of the Paddle platform and to meet the market opportunity that exists for a complete payment infrastructure provider for software companies globally.
SaaS companies are experiencing a period of sustained growth, a trend that was accelerated by the surge in software during the Covid-19 pandemic and is set to continue as businesses and consumers become ever more used to using digital tools like Zoom to communicate, Miro to collaborate, or Canva to create. The SaaS industry, which was worth $397 billion in 2021, is expected to grow to $692 billion in 2025.
SaaS companies now have an incredible opportunity to compete and sell their products in any market in the world, but to do so they must also manage payments and operations across multiple geographies and navigate an increasingly complex web of local and international tax and data regulations.
By integrating checkout, payment, subscription management, invoicing, international taxes, and financial compliance processes, Paddle offers SaaS companies a completely different approach to payments infrastructure. Instead of assembling and maintaining a complex stack of payments-related apps and services, Paddle acts as a merchant of record for its customers. This enables software companies to activate new business models and enter new markets faster, more easily and with fewer operational and compliance issues.
Discover more about Paddle here.