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Future of British Business

KKR-Backed UK Startup Paddle Strikes $200 Million Deal

  • Startup founded in 2012 by then 18-year-old Christian Owens
  • UK-based company now has about 330 employees combined
The Paddle website.

The Paddle website.

Corrected

UK startup Paddle is making its first acquisition, spending more than $200 million in a mix of cash and equity to buy ProfitWell to grow its payments service.

Founded in 2012 by then 18-year-old Christian Owens, Paddle raised $200 million from investors led by KKR & Co Inc at a $1.4 billion valuation earlier this month. Paddle focuses on building tools for software companies to handle payments including checkout and subscription management.