Pipe & GoCardless to boost capital access for SMBs in the UK

By Gloria Mathias

Pipe, a FinTech company and bank payment company GoCardless, has announced a partnership to reshape capital access for UK businesses.

Under the partnership, Pipe’s customer-friendly capital offering will be accessible via the GoCardless platform, providing simple and seamless capital access for its UK customer base.

Over the past several months, Pipe successfully conducted a pilot program with GoCardless in the UK. The two companies have agreed to formalise their partnership to bring Pipe’s customer-friendly capital solutions to the broader UK market.

“Our partnership with GoCardless in the UK market marks a significant step forward in our mission to empower small businesses worldwide with the financing and services they need to grow and prosper,” said Luke Voiles, CEO of Pipe. “By combining Pipe’s customer-friendly solution with GoCardless’s extensive reach in the UK market, we’re revolutionising how small businesses access capital and providing them with the financial tools they need to thrive in today’s dynamic economy.”

GoCardless partnered with Pipe after a comprehensive market evaluation, citing Pipe’s impressive pre-approval rate for merchants and its ability to offer capital without personal guarantees. Pipe’s solution stands out in the market for its fast, easy-to-access financing, which requires no credit checks. Its flexible top-ups provide similar benefits to a line of credit, and the streamlined user experience results in higher sign-up conversion rates.

This approach is particularly crucial for microbusinesses and minority-owned businesses, many of which lack the business history or credit scores required by traditional lenders.

“We’re excited to work with Pipe to roll out their capital offering to our UK customer base,” said Jolawn Victor, Chief Growth Officer, GoCardless. “Their expertise and support helped us implement a pilot program quickly. Early results have exceeded expectations, with almost £7m in capital being advanced to GoCardless customers. We look forward to fully launching this embedded product next year, helping customers tap into new opportunities for growth and expansion while continuing to build their trust and loyalty in GoCardless.”