Paddle buys ProfitWell to automate payments infrastructure

Wednesday 25 May 2022 12:23 CET | News

UK-based Paddle has acquired provider of subscription metric and retention software ProfitWell to automate its payments infrastructure for SaaS companies.

By integrating ProfitWell’s financial metrics, as well as its pricing and retention software, subscription businesses will now be able to plug into Paddle and have their taxes, payments, billing, reporting, retention, and pricing all done for them.

Together, the combined business will use this ‘do it for you’ approach to capitalise on the new wave of software that focuses on taking care of the problem instead of providing the tools to solve it, allowing subscription businesses the bandwidth to focus on their product and customer.

ProfitWell is a subscription revenue automation company, founded in 2012 by Patrick Campbel. Over 30,000 businesses in more than 100 countries, including Canva, Autodesk, Masterclass, and Notion, use ProfitWell’s suite of tools to analyse their subscription business before automating their pricing and retention efforts to support growth. 

The acquisition will be funded via Paddle’s recent Series D fundraise and will see ProfitWell continue to operate under its existing brand for the foreseeable future as the two companies work to integrate their respective products throughout 2022.

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Keywords: acquisition, subscription payments, digitalisation, data analytics, SaaS, payments infrastructure
Categories: Payments & Commerce
Companies: Paddle, ProfitWell
Countries: World
This article is part of category

Payments & Commerce




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