Miami-based startup Pipe has launched a marketplace for organizations to sell and buy recurring income streams such as assets, with its most recent foray into the UK market.
The software provides an opportunity for small businesses looking to finance their growth without debt or dilution. This year, Pipe was adopted in the United States by such companies; it reports that more than 8,000 companies have signed up on its trading platform, with over 50% of transaction volume coming from verticals, including direct-to-consumer subscription, property management, streaming services and service companies such as gyms and pest control.
âI left the UK for the US seven years ago because it offered the best funding environment to build my first tech company,â said Harry Hurst, co-founder and co-CEO of Pipe , in a press release. “If Pipe had existed a decade ago and had business-friendly financing options, I might never have left the UK”
Pipe also recently added two executives to its team. Brad Coffey, previously Director of Strategy for HubSpot, has joined the company as Director of Clientele. Coffey was one of HubSpot’s first employees, and the company grew from a startup to a publicly traded company during his time there.
Pipe also added Sid Orlando, former editor of Stripe, and before that, head of curation and content at Kickstarter.
With its launch in the UK market, Pipe wants to hire to help expand internationally.
Pipe raised $ 300 million in equity funding from investors such as Shopify, Slack, Okta, HubSpot, Next47, TIME Ventures from Marc Benioff, Seven Seven Six from Alexis Ohanian, Chamath Palihapitiya, MaC Ventures, Fin VC, Greenspring Associates, Counterpoint Global (Morgan Stanley) and more.