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EXCLUSIVE: E-commerce firm Paddle merges with DevMate in ‘seven figure’ deal

paddle team

E-commerce platform Paddle has merged with software development and distribution toolkit firm DevMate in an undisclosed “seven figure” deal.

Paddle, which has raised $5.4m m to date, and DevMate – created by Ukraine-based software development company MacPaw – will merge to form an enhanced platform for software firms.

Oleksandr Kosovan, MacPaw’s founder and CEO, will join Paddle’s board of directors.

“DevMate was an obvious choice for us, with so much need among their customers for a checkout solution and our desire to improve the way companies build software through better tools,” Christian Owens, Paddle’s founder and CEO, told Tech City News.

“With DevMate and Paddle, we are one step closer to realising our mission to be the number one platform for software developers to manage and grow their businesses.

“We have admired DevMate since it launched; it adds crash reporting and additional incredible analytics to our platform and considerably improves our licensing and release management capabilities,” Owens, who is a Peter Thiel fellow and founded his first business at the age of 14, added.

Based in London, Paddle claims to have grown at approximately 300% year-on-year since launch and says its has more than 500 customers.

The firm has no definitive M&A strategy but Owens highlighted that the team evaluated these kind of opportunities on a case-by-case basis. “If we can add incredible people or technology [to Paddle] then we’re open to doing more in the future,” he noted.

Kosovan also commented on the news: “DevMate is the best tool for software developers to develop and distribute software – the only piece of the software lifecycle it didn’t cover was checkout and payments.

“Paddle is the most innovative e-commerce solution out there for software businesses, so for me this deal was obvious. I am thrilled to be joining the Paddle board and helping the team as it continues to grow.”

Paddle, which previously acquired analytics platform, will continue to run out of London.