Paddle Billing
ProfitWell MetricsThe company
Founded in 2014, SaaS product Enhancv wants to put an end to boring resumes and CVs.
When Enhancv was first built, the small team took a manual approach to designing more compelling resumes for job seekers. Over the last ten years, the company has evolved tremendously. It has added many easy-to-use customization features and templates to its service and recently leveraged AI to develop a writing assistant that helps users summarize their strengths and achievements. It can even suggest improvements.
The company hasn’t gone unnoticed. A CV it created for former Yahoo CEO, Marissa Mayer, went viral after being picked up by Business Insider.
“That was a real turning point for us,” says Aleksandar Ginovski, Enhancv's Head of Product.
"Overnight, we saw our user base go through the roof, and we began bringing in a lot more revenue.”
The company hasn’t looked back. Today, over two million people have used Enhancv’s resume builder to tell their stories with confidence. Users boast jobs at the likes of Tesla, Google, Facebook, and Spotify and the company attributes its continued growth to a range of factors.
“We have grown organically in recent years,” Aleksandar says. “We’ve worked a lot more on content and driving traffic to our service. We’ve also found success with paid marketing. And, of course, we've found Paddle.”
All too often, we’d see black and white CVs formatted exactly the same way. We wanted to create CVs that stood out so that our customers could really differentiate themselves and get recruited at top companies.”
Aleksandar Ginovski, Head of Product, Enhancv
The challenge
Before using Paddle, Enhancv relied on payments platform Braintree. However, this was holding it back.
As a pure payments processor, Braintree provided a basic service. But it had a lot of complexity. If we wanted to add a new plan or switch someone from one plan to another, it was one hell of a story.”
Aleksandar Ginovski, Head of Product, Enhancv
Enhancv also faced problems offering local currencies and payment methods to customers.
“We could only sell in dollars. At one point, we introduced euros, but it was really complicated – we needed to create separate plans for the different currencies.
We had a lot of people from Australia and Canada who were getting super confused with the price they were charged because they saw one thing on the screen, and something different on their bank statement because of the currency conversion. We had a lot of messages from customers about this.”
Aleksandar Ginovski, Head of Product, Enhancv
These issues only compounded as Enhancv grew. However, the last straw came when the company began selling into more and more countries and encountered the need to be sales tax compliant.
Every time we began selling in a new region, there were more tax rules to consider. This was preventing us from focusing on what should have been our priority: enhancing our product.”
Aleksandar Ginovski, Head of Product, Enhancv
The solution
Enhancv sought a more robust and comprehensive payments solution that could help it better manage its tax and international payments burden to free up internal resources and scale.
We knew that our chosen solution needed to be a Merchant of Record. We didn't want another payment processor because we didn't want to deal with the heavy lifting around taxation. We wanted to be able to offload all of that so that we could focus on our growth.”
Aleksandar Ginovski, Head of Product, Enhancv
As a Merchant of Record (MoR), Paddle is the legal entity responsible for selling goods or services to the end customer.
Paddle acts as the middleman between Enhancv and its customers and takes on all the risks and responsibilities associated with managing transactions, honoring refunds and chargebacks, fraud protection, and sales tax.
Paddle stood out for its modern approach, user-friendly interface, and the fact it specifically serves SaaS and digital product businesses.
Other solutions felt too corporate and outdated. They didn’t align with our agile, fast-growing startup ethos. Paddle felt like a modern solution. It offered us the trust and flexibility we needed.”
Aleksandar Ginovski, Head of Product, Enhancv
The results
200% year-on-year revenue growth
By improving its payment infrastructure, transforming its pricing strategies, and successfully implementing new AI features into its products, Enhancv has seen significant growth, including a 200% year-on-year revenue increase in 2024. Here’s how Paddle has helped:
Freedom to build and launch new product features
By offloading its administrative headaches around sales tax, chargebacks, fraud protection, and more, Enhancv has been able to focus on its growth and launch new features.
We don't need to think about taxation matters at all. That's beneficial because we can focus on our business. It has given us time to build new products and features quickly. For example, we have been able to add our new AI-based resume checker and start selling it as part of our packages.”
Aleksandar Ginovski, Head of Product, Enhancv
Boost in payment acceptance
Since implementing Paddle, Enhancv has observed fewer payment issues and improved global payment acceptance to 89%.
We are seeing better payment acceptance in specific regions and far less contact from customers about payment authorization issues.”
Aleksandar Ginovski, Head of Product, Enhancv
Increased conversions globally with local pricing
Enhancv now leverages Paddle to offer local currencies to customers, which has improved customer satisfaction and conversion. The ease of expanding into new markets means that Enhancv now sells to almost every country in the world.
With Paddle, I can add a new currency in five minutes. This removes a pain point for customers since they are charged what they see on their screens. Currently, we sell in dollars, euros, Indian rupees, and Canadian and Australian dollars."
Aleksandar Ginovski, Head of Product, Enhancv
Aleksandar and the team are also using Paddle to experiment with different pricing for different countries and regions based on willingness to pay
We actually figured out that we were underselling our product. Using Paddle, we were able to experiment with our pricing in different regions. It’s been super easy to do, and we have seen improved conversions in India, Canada, and Australia because of the new prices we introduced. This has definitely contributed to our growth.”
Aleksandar Ginovski, Head of Product, Enhancv
The future
There are so many things we want to do in the future, and Paddle will really help us.
We want to continue expanding into new non-English markets, which means a lot of localization. We want to continue adopting new advances in AI and are placing big bets there.
We also plan to adopt Paddle Billing so we can offload even more of our administrative burden.
Most excitingly, we are looking to launch a new product. We can’t reveal too much about it yet, but we know Paddle will be integral to a successful go-to-market strategy.”
Aleksandar Ginovski, Head of Product, Enhancv
Want to see how Paddle can help you sell your SaaS or digital product globally with ease? Speak to our team to Get Started.
