Software billing startup Paddle has raised a £52 million ($68 million) Series C from investors including FTV Capital, Kindred Capital, Notion Capital, and 83North. Founded in 2012 by Christian Owens and Harrison Rose when they were just teenagers, Paddle has raised £72 million ($93 million) to-date. Owens dropped out of school to focus on the startup, and neither cofounder went to university.
Paddle, a platform that helps software-as-a-service (SaaS) companies grow globally by taking care of payments, checkout, subscription management, and licensing, has raised $68 million in a series C round of funding led by FTV Capital. The raise comes in what can only be described as a blockbuster year for SaaS companies, powered substantially by the push to cloud computing and the rapid embrace of remote working. Recent Gartner data indicates that the SaaS market is on track to hit $105 billion in 2020, a figure it projects to rise by 18% in 2021.
Lean Staffing Solutions (LSS), a staffing firm offering nearshored solutions in Colombia focused on transportation and logistics, announced Tuesday that it had raised a $42.5 million growth equity minority investment from FTV Capital. “Colombia is the fourth-largest business process outsourcing (BPO) market in Latin America with a $2.3 billion market size and an annual growth rate of 19% over the last seven years,” said Brad Bernstein, managing partner of FTV Capital, in a statement.
Lean Staffing Solutions (LSS), a staffing firm offering nearshored solutions in Colombia focused on transportation and logistics, announced Tuesday that it had raised a $42.5 million growth equity minority investment from FTV Capital. “Colombia is the fourth-largest business process outsourcing (BPO) market in Latin America with a $2.3 billion market size and an annual growth rate of 19% over the last seven years,” said Brad Bernstein, managing partner of FTV Capital, in a statement.
All told it seems that the biggest tech companies are busy defending their market position instead of re-earning it with great products. A good time for startups? I think so. When incumbents are busy fighting with governments, themselves and each other, it’s a great time to show up, steal a march and build neat products that take away their momentum. On the funding front, we peeked at the neat Help Lightning round, the Agiloft investment and the Vertafore exit.
Founded in 1998, private equity firm FTV Capital pursues a theme-based growth strategy, focusing on high-growth companies in the enterprise technology, financial services, and payments and transaction processing space. It has also cultivated a Global Partner Network, a range of large financial services companies and individual investors, that can connect with FTV's portfolio companies to solve potential problems or fill outstanding needs.
Derivative Path, Inc. (DPI), a leading capital markets financial technology and services company, announced today that it has secured $35 million in growth equity funding from FTV Capital, a successful investor in innovative, high-growth companies within the enterprise technology and services, financial services, and payments and transaction processing sectors.
