Pipe launches trading platform that turns recurring revenue streams into assets

Accounting

Pipe, a startup based in the United Kingdom, has launched a marketplace for organizations to sell and buy streams of recurring revenue like assets. The marketplace is available in the United States as well.

The software could be valuable to firm clients seeking to fund their growth without debt or dilution.

This year, Pipe has seen adoption in the U.S. from just such companies. According to Pipe, more than 8,000 companies have signed up on the trading platform with over 50% of the trading volume coming from non-SaaS vertical markets including direct-to-consumer (D2C) subscription, property management, streaming services and service-based businesses such as gyms and pest control.

“I left the U.K. for the United States seven years ago as it provided the best funding environment to build my first technology company, and it is enormously gratifying to bring those same opportunities to the burgeoning ecosystem of technology companies in the U.K.,” said Harry Hurst, co-founder and co-CEO of Pipe, in a statement. “If Pipe existed a decade ago and offered company friendly financing options, I might never have left the U.K.“

Pipe also recently added two executives to their team.

Brad Coffey, previously chief strategy officer of HubSpot, has joined as Pipe’s chief customer officer. Coffey was one of HubSpot’s earliest employees, and the company grew from startup to a publicly traded company during his time there.

Pipe has also added Sid Orlando, former editor-in-chief at Stripe, and before that, manager of curation and content at Kickstarter.

With its launch into the U.K. market, Pipe is interested in hiring to help grow internationally.

Pipe has raised $300 million of equity financing from investors including Shopify, Slack, Okta, HubSpot, Next47, Marc Benioff’s TIME Ventures, Alexis Ohanian’s Seven Seven Six, Chamath Palihapitiya, MaC Ventures, Fin VC, Greenspring Associates, Counterpoint Global (Morgan Stanley) and more.

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