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    You are at:Home » Pipe, a trading platform, raises $50 million to go global valued at $2 Billion
    Business

    Pipe, a trading platform, raises $50 million to go global valued at $2 Billion

    bizfandomBy bizfandomAugust 6, 2022033 Mins Read
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    Los Angeles-based trading platform Pipe, a business that wants to become the Nasdaq of revenue, has raised $150 million in new capital, valuing it at $2 billion as of right now.

    The company confirmed that the funding sum ultimately came to $250 million, the initial allotment for this round was $150 million. Harry Hurst, the company’s co-CEO and co-founder, stated that the business could have raised more cash if it had seen fit.

    Leading this round of funding was Greenspring Associates of Baltimore, Maryland, along with existing investors Marc Benioff, Next47, MaC Ventures, Seven Seven Six by Alexis Ohanian, and Republic, as well as Counterpoint Global, owned by Morgan Stanley, FinTech Investment Fund, Fin VC, 3L, CreditEase, and SBI Investment from Japan.

    The new funds are barely two and a half months old compared to the $50 million in earlier funding from many investors, including Jim Pallotta and his Raptor Group, Slack, Shopify, and Next47 from Siemens, HubSpot, Okta, and Chamath Palihapitiya from Social Capital. The $316 million that Pipe has now collectively raised has greatly increased the company’s valuation.

    Pipe debuted in beta at the beginning of last year for SaaS companies. As businesses nationally experience economic uncertainty, larger SaaS companies also use Pipe to provide consumers with more flexible monthly or quarterly payment periods, which previously had to be annual pre-paid.

    The platform has been utilized by companies in various industries since it was made public in June. Since then, Pipe has expanded its market to include enterprises that sell directly to consumers, telecommunications services, and streaming services. Million dollars have been moved on the trading place this year alone, as per the business, which claims that over 3,000 organizations have joined overall.

    A few months after that initial seed round, Pipe extended that round by securing an additional $10 million in funding.

    Some well-known investors have contributed $50 million in “strategic equity capital” to Miami-based Pipe, which was just recently announced. While purchasing main equity takes up the majority of the round, purchasing secondary equity only accounts for a small fraction of the round.

    Harry Hurst, CO-CEO and CO-Founder of Pipe, is cautious to refer to the most recent financing as a stage. He declared, “We don’t want to play the letter game. The money wasn’t the issue here. Before this round, we had five or six years of runway. It was necessary to choose the right partners on our capitalization table.”

    Ashton Newhall, a managing general partner at Greenspring Associates, stated in a written statement that Pipe has rapidly become one of the most significant financial companies on the planet by fundamentally altering how businesses and organizations secure cash to fund their growth. Our funding will advance Pipe’s goal of giving businesses control over their growth.

    Similar to prior rounds, the new money will be used to support Pipe’s international growth and its entry into new industry verticals. From startups to publicly traded enterprises, Hurst claimed that there are “a plethora of addressable markets.”

    Even though the startup’s official launch was in the United States, it is also making headway in Canada, Latin America, Asia-Pacific, and Europe. Hurst believes that India would eventually rank among its top markets. When we discuss global expansion, we mean supporting many currencies, as per Hurst.

    FAQ’s

    Who are the Founders of Pipe?

    Harry Hurst, Zain Allarakhia, and Josh Mangel.

    When was Pipe founded?

    September 2019.

    Where is Pipe headquarter?

    Miami, Florida.

    How much funding was raised by Pipe?

    $150 million.

    Who purchased Pipe?

    Greenspring Associates.

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