Image credit: Paddle
London-based payment provider Paddle’s Christian Owens is stepping down as CEO after more than 10 years in the role. Owens is set to be replaced by Jimmy Fitzgerald, Paddle’s COO who has previously worked at ServiceNow and Oracle.
In a Linkedin post, Owens said:
“It’s hard for me to put into words the experience of building Paddle. I started this company in my bedroom, and together we have scaled it to an enduring and recognised business approaching $100m in revenue.
“As we push forward into our next phase, I know now is the right time for me to pass the baton of day-to-day operations.”
With Fitzgerald stepping up as the chief executive, Owens will transition to the role of executive chairman working on its product and strategy.
Owens added: “I’m incredibly excited both about the things we already have planned, and also the ability in my new role to spend more time with our customers and product teams, continuing to craft our future.”
In May 2022 the company achieved unicorn status with a valuation of $1.4bn as part of a £162m Series D round.
The fintech then went on to spend £160m on acquiring the US subscription and retention automation software ProfitWell.
Recent times have been somewhat tougher, however. Paddle, which offers financial tools such as checkout, subscriptions, invoicing and payments, announced at the start of the year that it would slash its workforce by 8%.