Pipe Hires Stripe & HubSpot Execs, Expands to the UK

Pipe Expands Executive Team and Launches in the U.K.

Pipe, a fintech startup aiming to establish itself as a leading marketplace for revenue, has announced the addition of two prominent industry figures to its executive leadership. Former Stripe Editor-in-Chief Sid Orlando and HubSpot’s previous Chief Strategy Officer Brad Coffey will be joining the company.

New Executive Appointments

Orlando transitions to Pipe after more than four years at Stripe, where she led content initiatives. Prior to Stripe, she managed curation and content at Kickstarter.

Coffey brings over thirteen years of experience from HubSpot, including nearly five years as Chief Strategy Officer. He will serve as Pipe’s Chief Customer Officer, focusing on expanding the platform’s reach beyond its initial SaaS focus.

Global Expansion into the U.K.

Alongside these key hires, Pipe has announced its first international expansion, entering the United Kingdom market. This move aims to provide greater access to capital for U.K. founders.

Significant Funding and Growth

Pipe has experienced substantial growth this year, securing $300 million in equity financing. Investors include Shopify, Slack, Okta, HubSpot, TIME Ventures, Seven Seven Six, Chamath Palihapitiya, MaC Ventures, Fin VC, Greenspring Associates, and Counterpoint Global (Morgan Stanley).

Since its launch in June 2020, the Pipe trading platform has attracted over 8,000 companies. This represents a doubling of its user base since May, when it had over 4,000 registered companies.

Platform Evolution and Mission

Founded in September 2019 by Harry Hurst, Josh Mangel, and Zain Allarakhia, Pipe’s core mission is to enable SaaS companies to access their revenue upfront. The platform connects these companies with investors who provide capital at a discounted rate.

The platform’s objective is to offer access to capital without requiring companies to dilute ownership or take on traditional loans.

Diversification Beyond SaaS

Pipe’s platform has broadened its scope to include non-SaaS companies. Currently, over 50% of companies utilizing the platform are not SaaS-based, a significant increase from 25% in May.

Executive Perspectives

Coffey’s familiarity with Pipe originated from leading HubSpot’s investment in the company last spring. He expressed his belief in Pipe’s potential to transform access to growth capital for founders.

Orlando highlighted Pipe’s opportunity to reshape the funding landscape, offering alternative financing options for companies seeking growth and scalability.

Rapid Growth and Future Outlook

CEO Harry Hurst indicated that Pipe is experiencing rapid growth, with tens of millions of dollars traded on the platform daily. The platform is also increasingly facilitating M&A financing.

The total tradable annual recurring revenue (ARR) on Pipe exceeds $2 billion and is projected to reach $3 billion.

Addressing Capital Access in the U.K.

Hurst believes Pipe’s entry into the U.K. will be particularly impactful, as the region often faces challenges in accessing sufficient capital for startups. The platform will provide an alternative financing avenue for U.K. founders.

Hurst, who previously relocated from the U.K. to the U.S. for funding opportunities, expressed his excitement about bringing similar opportunities back to the U.K. ecosystem.

Team Expansion and Microhub

To support its U.K. launch, Pipe has established a microhub in London, with 10% of its 55-person team based there.

Key Features of the Pipe Platform

Non-Dilutive Capital

Provides funding without requiring companies to give up equity.
Offers an alternative to traditional loans.

Revenue-Based Financing

Allows companies to access upfront capital based on their recurring revenue.
Connects companies with investors willing to pay a discounted rate for future revenue.