Pipe Secures $60 Million Through Seed Funding Round to Accelerate SaaS Subscription Financing Platform

Pipe, a U.S.-based SaaS company, announced on Wednesday it secured $60 million through its latest seed funding round, which was led by Fin VC with participation from new investors Tribe Capital, Uncorrelated Ventures, Lachy Groom, Anthemis, and existing investors Craft Ventures, Fika Ventures, and MaC Ventures.

Founded in 2019,  Pipe stated it gives SaaS companies access to the full annual value of their subscriptions, upfront. Since launching its SaaS financing platform in February 2020, Pipe claims it has seen overwhelming demand from early and growth-stage SaaS companies. The company reported:

“Larger SaaS companies also leverage Pipe to offer more flexible monthly or quarterly payment terms to customers that were previously forced to be annual pre-paid, an attractive and increasingly necessary alternative as businesses nationwide face economic instability.”

While sharing more details about the platform, Pipe Co-Founder and Co-CEO, Harry Hurst, stated:

“We’re fundamentally changing the way SaaS companies fund their growth by treating their subscriptions as a new asset class. Through our financing platform, SaaS companies can turn their monthly and quarterly paid subscriptions into the up-front cash flow they need to grow. We’ve invested in building the technology to make the process seamless and instant so that SaaS companies can focus on pitching customers, not investors.”

Funds from the seed round will finance Pipe’s rapid growth, expand operations into new markets, and represents a significant commitment of capital to the buy-side of its platform from KSD Capital.

 

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