Tech

Payment Infrastructure Provider Paddle Acquires Profit Well for $ 200 Million

UK-based Paddle, which provides payment infrastructure to software companies, has acquired Profit Well, a provider of subscription metrics and retention software.

Paddle Acquires Profit Well on $ 200 Million Value Transaction

Worth more than $ 200 million in cash and capital, the deal is “the next step in our mission to remove barriers to the growth of Software-as-a-Service (SaaS) companies around the world.” Paddle says.

Paddle integrates ProfitWell’s financial metrics with pricing and retention software to enable subscription businesses to “plug” into Paddle to perform taxes, billing, payments, and pricing.

The news of the acquisition gets hot right after the paddle Series D Round Raised $ 200 Million The company was worth up to $ 1.4 billion.

The company says it is working to integrate ProfitWell’s technology with its products for the rest of 2022.

All ProfitWell employees and offices in Boston, Salt Lake City and Rosario will be maintained and many senior management will join Paddle’s leadership team.

Patrick Campbell, CEO of ProfitWell, will become Paddle’s Chief Strategy Officer, and Facundo Chamut, Chief Product Officer, will maintain that role.

Headquartered in Boston, Profit Well was founded by Campbell in 2012. More than 30,000 companies in 100 countries use ProfitWell’s suite of tools to analyze their subscription business and then automate pricing and retention efforts to support growth.



Payment Infrastructure Provider Paddle Acquires Profit Well for $ 200 Million

Source link Payment Infrastructure Provider Paddle Acquires Profit Well for $ 200 Million

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