Pipe Secures $100 Million Credit Facility from Victory Park Capital
Key Highlights:
- Funding Details:
- Amount: $100 million credit facility
- Potential Upsize: Up to $200 million in the future
- Provider: Victory Park Capital (VPC)
- Purpose:
- Support for Pipe’s newly launched embedded Capital-as-a-Service solution for SMBs
- Specifically targets payment firms and vertically integrated software vendors
- Company Background:
- Founded: 2019
- Headquarters: San Francisco
- Core Offering: APIs and infrastructure enabling partners to embed capital solutions into their ecosystems
- Objective: Enhance merchant experience and monetize payments
- Expansion Goals:
- Increase capacity to more than $1 billion per year in originations for SMBs
- Leadership Comments:
- Luke Voiles, CEO of Pipe: Emphasizes the facility’s role in expanding origination capacity for SMBs
- Tom Welch, Partner at VPC: Notes shared mission with Pipe to provide capital solutions to overlooked enterprises
- Recent Leadership Hires at Pipe:
- Yasmin Moaven: Chief Operations and Marketing Officer
- Manpreet Dhot: Chief Risk Officer
- Scott Polchleb: Chief Innovation Officer
- Namrata Ganatra: Chief Product and Technology Officer
Summary: Pipe has secured a $100 million credit facility from Victory Park Capital, with the potential to increase to $200 million. The funds will support Pipe’s Capital-as-a-Service solution for SMBs, targeting payment firms and software vendors. This facility aims to expand Pipe’s origination capacity to over $1 billion annually. The announcement follows Pipe’s recent leadership hiring spree aimed at building a top-tier fintech team.
