This Pipe-ing hot startup just raised $50M to be the ‘Nasdaq for revenue’
A little over one year ago, Pipe raised a $6 million seed round led by Craft Ventures to help it pursue its mission of giving SaaS companies a funding alternative outside of equity or venture debt.
The buzzy startup’s goal with the money was to give SaaS companies a way to get their revenue upfront by pairing them with investors on a marketplace that pays a discounted rate for the annual value of those contracts. (Pipe describes its buy-side participants as “a vetted group of financial institutions and banks.”)
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Pipe CEO Harry Hurst and Chief Operating Officer Michal Cieplinski moved from California to Miami in September because they wanted a more convenient time zone for their clients in Europe and the Middle East.
Then they fell in love with the city because of its burgeoning tech ecosystem, safety, cosmopolitanism, and pro-business mayor, Francis Suarez.
They described to Business Insider their relationship with Suarez, who has been handing out his cellphone number to founders and investors who relocate to Miami.
Hurst and Cieplinski opened a Pipe office in the city in October, closed their San Francisco and Los Angeles offices, and said they d received hundreds of messages from other founders who were considering moving.