Pipe secures $250 mn in funding, reaches $2bn valuation 10 months after public launch

By Pavithra R

Pipe, creators of the world’s first trading platform for recurring revenues, has announced securing $250 mn in strategic equity funding. The investment brought the company at $2 bn valuation in just under a year since its public launch.

The funding round was led by Greenspring Associates and saw participation from new investors Counterpoint Global (Morgan Stanley), CreditEase FinTech Investment Fund, SBI Investment, 3L, Sound Ventures and Guy Oseary, and existing investors such as Fin VC, Next47, Marc Benioff’s TIME Ventures, Alexis Ohanian’s Seven Seven Six, MaC Ventures, Republic, and more.

“By fundamentally changing the way entrepreneurs and organizations raise capital to fund their growth, Pipe has quickly emerged as one of the most important financial technology companies in the world. Our investment will further Pipe’s mission to put companies in the driver’s seat of their growth,” said Ashton Newhall, Managing General Partner, Greenspring Associates.

Pipe’s trading platform has seen rapid adoption beyond their initial launch vertical of SaaS to all companies with recurring revenue streams looking to fund their growth without debt or dilution. Originally allocated for $150 mn, the round was oversubscribed by $100 mn. The firm plans to use the finance to bolster its platform globally, while also continuing to expand its offering across every recurring revenue vertical including property management companies, direct to consumer subscription (physical products), telecommunications, sports and entertainment, biotech, healthcare, and VC fund management fees.

“At Pipe, we’ve built the world’s first trading platform for recurring revenue to help accelerate growth for entrepreneurs without the burden of debt or dilution. Pipe has become a mission-critical part of our customers’ growth over the last year and this strategic financing further cements our position as the first and only trading platform for revenue as we build over the coming decades,” said Harry Hurst, co-founder and co-CEO, Pipe.

Founded in 2019, Pipe is a trading platform that enables entrepreneurs to grow their businesses on their terms. By offering a non-dilutive, debt-free way for any company with recurring revenue to grow, Pipe has unlocked the largest untapped asset class in the world, revenue.