Pipe Technologies, Inc., a Los Angeles, CA-based financing platform for buying and selling SaaS subscriptions, raised $60m in equity and asset financing as an extension to its seed round.
The round 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.
The capital will finance the company’s growth, expand operations into new markets, and represents a significant commitment of capital to the buy-side of its platform from KSD Capital.
Founded in September 2019 by Harry Hurst, Josh Mangel, and Zain Allarakhia, Pipe provides a subscription financing platform enabling SaaS companies to obtain instant liquidity on their subscription contracts as an alternative to equity financing. Larger SaaS companies also use the company’s solution to offer flexible monthly or quarterly payment terms to customers.
Concurrent with the financing, Pipe announced the appointment of Michal Cieplinski as Chief Operating Officer and Chief Legal Officer.