USA – Pipe, a Miami, FL-based trading platform for recurring revenues, raised $250m in funding.
The round, which valued the company at $2 billion in under a year since its public launch, was led by Greenspring Associates, and new investors Counterpoint Global (Morgan Stanley), CreditEase FinTech Investment Fund, SBI Investment, 3L, Sound Ventures and Guy Oseary, with participation from existing investors such as Fin VC, Next47, Marc Benioff’s TIME Ventures, Alexis Ohanian’s Seven Seven Six, MaC Ventures, Republic, and more. The company intends to use the funds to bolster its platform globally, 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. Co-founded by Josh Mangel, and Harry Hurst, Pipe is a trading platform that enables entrepreneurs to grow their businesses on their terms. By treating recurring revenue streams as an asset, the platform allows companies to transform their recurring revenue into upfront capital, instantly. Over 4,000 companies have signed up on the platform since its public launch in June 2020, and over 25% of the companies on the platform operate in non-SaaS verticals. 19/05/2021
