Merchant Innovation

Paddle Offers Software For SaaS Startups

Paddle is a B2B startup offering SaaS software to other SaaS startups.

Paddle, a B2B startup, wants to make its niche by selling SaaS eCommerce services to other SaaS startups to help them scale easier and place the focus on building their core products, or as Paddle itself likes to put it, its solution is a “platform for software companies to manage checkout, billing, customer relationships and run their business.”

Among the services that Paddle’s platform offers is support for a range of payment methods, fraud prevention and checkout recovery services, the handling of sales tax for software businesses that sell internationally, data crunching of sales figures and customer feedback for analytics.

TechCrunch believes that Paddle is going after SaaS startups who might be struggling to scale their international sales divisions.

“Around 80 percent of our customers are actually businesses who are scaling,” Cofounder Christian Owens told TechCrunch. “They’ve gotten to around $50K–$100K per month in revenue and realize they’re becoming a ‘real business’ but don’t want to start the process of building out internal teams, tooling and expertise to support their further growth. So, we make the process of swapping from their existing way of doing things super easy — typically, they’re using Stripe/PayPal/Braintree/FastSpring, some other services and homegrown tools.”

Although Paddle’s product offering might not appeal or even be relevant to all startups, it has just announced a $3.2 million Series A funding round led by BGF Ventures and Spring Partners.

TechCrunch said that Paddle currently has about 400 clients and has reported growth of 350–400 percent each of the last three years.

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LATEST PYMNTS REPORT: B2B API TRACKER 

Social distancing has changed eCommerce from a ‘want to have’ to a ‘must have’ for businesses, yet retailers could struggle to create convenient payment and refund experiences for their apps and websites, says Abdul Raof Latiff, head of DBS Bank’s digital institutional banking group. In the April 2020 B2B API Tracker, Latiff explains how banks can provide a timely assist via application programming interfaces (APIs) that integrate payments into those eCommerce platforms.

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