Pipe
Embedded working capital advances and business charge cards for vertical SaaS, PayFacs, and marketplaces serving SMBs.
Overview
Pipe is a fintech infrastructure company that enables vertical SaaS platforms, payment facilitators, and marketplaces to offer embedded working capital advances and business charge cards to their SMB customers — without building the underlying lending, underwriting, compliance, or capital markets infrastructure themselves. Its flagship product, Pipe Capital, is structured as a Merchant Cash Advance: small businesses receive an upfront cash advance and repay it as a percentage of ongoing revenue, with no fixed monthly payments, no personal guarantees, and no traditional credit checks. The Pipe Business Card, launched October 2024, extends the suite with an embedded pay-in-full charge card issued by First Internet Bank of Indiana under a Visa license. Partners integrate Pipe in days to weeks via three tiers — Pipe-hosted (no-code), Embedded UI, or full Capital API — and can white-label the experience under their own brand. The product's core differentiators are its AI-native underwriting model (using live platform revenue data instead of personal credit), multi-country launch capability (US, UK, Canada live; Australia and Netherlands announced), and end-to-end go-to-market support including pre-built dashboards, a Partner Portal with sandbox and webhook management, and a dedicated merchant services team. Pipe Technologies takes on the underwriting risk entirely. Pipe was founded in 2019 as a recurring revenue trading marketplace, then pivoted under CEO Luke Voiles in 2023 to embedded capital. The relaunched platform went live in early 2024 and has originated over 15,000 advances totaling more than $300 million across partners including Boulevard, GoCardless, Housecall Pro, Uber, Priority, Live Payments, and Epos Now.
Key features
- Revenue-based AI underwriting
- No-code to full API integration
- White-label branded experience
- Multi-draw revolving capital
- Embedded business charge card
Vertical focus
horizontal
Notable customers
Boulevard, GoCardless, Housecall Pro, Uber, Priority
At a glance
| Category | lending |
|---|---|
| Model | ["no_code","white_label","api_first","hybrid"] |
| Pricing | ["revenue_share","custom"] |
| Revenue share | Not disclosed |
| Best company size | ["smb","mid_market","enterprise","growth"] |
| Minimum volume | Not disclosed |
| Time to launch | weeks |
| Technical complexity | low |
| Founded | 2019 |
| Funding stage | series_d_plus |
| Website | https://pipe.com |
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