CIBC Innovation Banking provides $25m in growth financing to Paddle
London, 17 July 2025 – CIBC Innovation Banking today announced that it has provided $25m in growth financing to Paddle, a Merchant of Record service provider for digital product companies globally. The funding will be used to support Paddle’s continued global expansion and growth following the opening of its new office in Austin and the expansion of its senior leadership team.
As a Merchant of Record (MoR), Paddle handles payments, sales tax, refunds, fraud, and compliance—replacing the need for a complex and fragmented payment stack. Paddle enables businesses to scale globally, with revenue metrics, benchmarks, and recommendations to drive growth. The business serves more than 6,000 SaaS, AI and app companies.
Jimmy Fitzgerald, CEO at Paddle said: “We are incredibly excited about the momentum Paddle has experienced so far in 2025. We only win when those we serve win, and the growth we’re seeing across the market reflects that shared success. We are seeing a huge increase in the number of consumer app businesses choosing Paddle to manage their web monetization, and will continue to invest in this space with the new financing and strengthened leadership. We look forward to building on these achievements through the rest of the year and beyond as we continue to serve thousands of digital product companies worldwide.”
Sean Duffy, Managing Director of CIBC Innovation Banking UK & Europe, said: “We are excited to fund Paddle as it continues on an impressive growth trajectory. In an ever-connected world, it’s important that digital product companies can receive payment from customers in any location without the hassle of navigating multiple payment processes in different geographies. We are excited to support Paddle as it continues expanding its global footprint.”
ENDS
About Paddle
Paddle helps over 6,000 digital product companies operate and grow, automatically. As a Merchant of Record, Paddle manages the complexity of global payments and currencies, refunds, and sales tax compliance on your behalf. We give you insight into your revenue metrics, benchmark your performance and provide the tools and expert advice to accelerate your growth. We’re backed by world-class investors including KKR, FTV Capital, Kindred, Notion, and 83North, and have raised over $300m in financing.
About CIBC Innovation Banking
CIBC Innovation Banking has 25 years of specialized experience in growth-stage tech and life science companies across North America – a longer track record than most banks. CIBC now has over $11 billion in funds managed including life sciences, health care, cleantech companies, investors, and entrepreneurs, and has assisted over 700 venture and private equity-backed businesses over the past six and a half years. The bank operates out of 14 global locations in San Francisco, Menlo Park, New York, Toronto, London, Austin, Boston, Chicago, Seattle, Vancouver, Montreal, Atlanta, Reston, and Durham. Connect with us today to start the conversation. https://www.innovationbanking.cibc.com/home
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