Case Study November 8, 2020

Allowing Paddle to serve today’s global app developers

Background

Established in 2012 with a run rate of approximately £20M, Paddle serves the global app developer community. Its end-to-end checkout enables developers to sell their software globally through the platform, providing an app store experience without the 30% commission. Alongside this, Paddle’s in-app analytics tool offers developers deep insight into how customers are engaging with their software and provides support on how to effectively engage with customers.

I’d recommend Currencycloud to any company that needs to send money across the world. It is in my view the easiest and cheapest way to do this. Integration with Currencycloud’s API gets the nerds at Paddle excited and is a super simple, streamlined process.

Hugo Grimston CFO, Paddle

Challenge

Faced with a far-reaching global customer base of app developers, we required a solution to remit international payments back to the customers whose payments we had processed.

Prior to discovering Currencycloud, we relied on international bank transfers or PayPal to complete this task. As such, the company was being hit with huge expenses, frustrating time delays and the pain of manually entering each transaction into the bank. Meanwhile as we started to onboard larger customers, PayPal was no longer a suitable alternative solution to traditional banks.

The tipping point for us came when we started experiencing rapid growth and gaining high-revenue customers. We required an automated, scalable solution to reduce friction and cost.

Partnership

With Currencycloud’s simple and smooth integration via their API, within two weeks, we had access to:

A streamlined automated payments process

At the touch of a button we can process essential transactions.

A completely transparent fee model

Thanks to Currencycloud’s scale, they were able to pass cost-savings onto us – saving us 97% per transaction compared to operating with out own bank.

Access to real time wholesale rates

Working alongside Currencycloud’s fast, secure payment network – slashing time delays.

Results

When Paddle started working with Currencycloud, the company was a tenth of the size it is today. Yet, rather than the workload increasing with transaction growth, we have maintained the same number of staff to deal with this process – and have even reduced the amount of time this team spends on managing transactions.

Our average customer is getting paid $1,000 a month and thanks to Currencycloud they are now saving 5% on landing fees, FX fees and transaction fees. For us, happy customers bring increased loyalty and ongoing business.

Speak with a payments expert

Start your borderless payments journey today.