Paddle,is more than  a software company, it’s the technology that helps software companies actually sell their software across the global. They recently made headlines with its acquisition of ProfitWell for approximately $210 million. The acquisition not only brought together two industry leaders but also showcased the power of strategic partnerships in the fintech space.

The belief was that ProfitWell, known for its comprehensive database and pricing product for software businesses, perfectly complemented Paddle’s offerings. The synergy between the two companies was evident in their shared customer base and similar goals. Andrew Davies, CMO of Paddle, highlighted ProfitWell’s value chain, which included Metrics, Retain, and Price Intelligently, as key factors in the acquisition decision.

However, the acquisition process was not without its challenges. Paddle had to go through a rigorous fundraising process to secure the necessary funds for the deal. The company considered various potential partners and involved its team in the decision-making process.

Ultimately, ProfitWell emerged as the ideal partner, aligning with Paddle’s vision and values.

What set this acquisition apart was Paddle’s decision to document the entire process through a documentary titled “We Sign Tomorrow.” The documentary aimed to share the valuable lessons and experiences with other startups and scale-ups in the industry. It provided insights into the challenges faced during the acquisition and demonstrated the determination and resilience required to navigate the complexities of such a deal.

The decision to document the acquisition was not taken lightly. The Paddle team recognised the additional burden it would place on top of negotiations, legal conversations, and constant document reviews. However, they believed that the risk of documenting the journey was valuable enough to add to the overall process.

From a marketing perspective, the documentary served as a powerful tool to showcase Paddle’s understanding of the startup and scale-up journey. It emphasised that Paddle had been through similar challenges and had the experience and expertise to guide other companies through the same process. It was a testament to Paddle’s commitment to its customers and its desire to help them succeed.

The acquisition and the subsequent documentary are part of Paddle’s broader strategy to build an industry-defining business. The company’s ambition is to grow and become a market leader on its own, rather than building for exit or being part of an ecosystem. The acquisition of ProfitWell was a significant step towards achieving this goal.

Overall, the acquisition of ProfitWell by Paddle has not only strengthened both companies but has also provided valuable insights for others in the fintech industry. The documentary, “We Sign Tomorrow,” has served as a beacon of hope and inspiration for startups and scale-ups, reminding them that success is achievable with the right mindset and determination.

As Paddle continues on its journey towards industry leadership, it is evident that their focus remains on helping their customers “go there” – whether that is launching in multiple countries or reaching an IPO. The acquisition of ProfitWell and the subsequent documentary are testaments to Paddle’s commitment to its customers and its willingness to share its experiences and learnings with the wider fintech community.

Listen to the episode here