LOVE CIRCULAR is a community-first technology course provider offering daily online classes taught by industry-leading professionals, all aimed at empowering the underserved with digital education. 

The Manchester, England-based company isn’t exaggerating when it says that its mission is to take 1 million UX and UI beginners and make them eligible for in-demand careers in technology and design. And while Love Circular’s emphasis is helping motivated people join the tech talent pipeline, their bootcamp also serves as a hub to connect people.

Making tech more diverse and inclusive is a cause that founder Zaire Allen believes in deeply. “I grew up in South Manchester,” he says. “There aren’t many people that I had as reference points for what someone in tech looks like, or just to be able to even reach out to them… I thought the best thing I could do is get myself into a career first, and then teach people from there.”

After building an impressive resume as an award-winning designer working with Apple, Google, and Sony, 

 was ready to start his own entrepreneurial journey by founding  

 and start putting his long-term plan into action. Zaire began building an inclusion-minded Slack community in 2016 and in 2020 he launched Love Circular, which is currently in the pre-seed stage.

The challenge: Traditional financing missed the mark for a unique business model

Initially, Love Circular was just Zaire and a small team of instructors. There was no money to hire initial positions in operations to help things run more smoothly, or marketers to help get the word out. Capital was the missing piece for growth—and it was hard to come by. 

“The main challenge [around funding] initially was the fact that we were a bootcamp,” Zaire says. “Logistically, bootcamps don’t scale the same way software companies do.”

That meant Love Circular needed to find new ways to access capital. Zaire says securing 

 was “really difficult” and applying for grants was too time-consuming. It seemed like the bootcamp model was hard to scale with traditional financing.

The solution: Financing based on the health of the business

 in November 2021 when the company announced it would be available to businesses in the UK. He quickly signed up to trial the platform and found it to be a “breeze.” 

Signing up and connect billing, bank and accounting

 “didn’t take longer than 10 minutes. I felt elated, it makes my job much easier in steering the ship not having to 

 in the time consuming traditional way.”

“I reached out to [my Pipe revenue manager] Scott to really understand how the platform worked,” Zaire says. And with a click of a button, “I saw the money in the bank account in the next day.” Ever since, Love Circular has been charting a course to a brighter future and regularly using Pipe as a working 

 partner to finance growth and operations.

“With Pipe, it really felt like someone actually believed in us in the end, especially given how difficult it was chasing banks to get a traditional loan or trying to get funds from grants.” 

“It’s a sigh of relief and a comfort knowing that we are able to maneuver through the financial the obstacles that come our way,” said Allen. “It’s so much easier to get funded with Pipe. We’ll continue to use Pipe no matter what stage we’re in. It’s unbiased capital - Pipe just looks at the hard data and makes a decision on the health of the business.”

Since signing up with Pipe, Love Circular has utilized the trading platform on a monthly and quarterly basis to fuel and supplement further growth. The company has used the capital to scale their bootcamp initiative, scale new hires, and launch a new flagship course. With the power to grow on their terms, Love Circular is well on it’s way to raise equity without compromise.

Manchester-based UX/UI bootcamp Love Circular leveraged Pipe’s unbiased capital to scale to 2x revenue fast

Learn how Love Circular 2x’d their revenue quickly using recurring revenue financing from Pipe

Case Study: How Love Circular 2x’d their revenue with recurring revenue financing

How Love Circular 2x’d their revenue with recurring revenue financing

, a stakeholder management and reporting platform used by over 2,000 businesses. In the course of his day-to-day, he’s helping solve bottlenecks in the information entrepreneurs need to share with their investors and potential investors.

Although Visible has helped loads of entrepreneurs, team members, and investors spark engagement through the reports its service has generated since 2014, that didn’t make Visible exempt from the same snags and complexities wrapped up in managing their own growth.

In the rear-view, Mike remembers a “burdensome process” of “using my own money, trying to find the cheapest flights, cheapest rental cars, cheapest everything and flying across the states trying to pitch people for money.”

For each and every hard-won lead Visible explored, Preuss said, “the process might take months, if not more than months, and you’re trying to close capital in weeks… a lot of times, it might be a waste of time, or they might not be the right fit.”

This trial-and-error process isn’t unique to Visible—it might sound familiar to anyone who’s tried to start or grow their own company. When it comes to 

, it can be, as Mike says “complex” and “opaque”—and rejection is often a grudgingly accepted part of the deal.

With 70% of their customers on monthly subscriptions, 

 right as the platform emerged—in fact, Visible was an early customer on Pipe’s trading platform. He quickly dug in to the opportunity for Visible to take monthly customers, and treat them as if they were annual customers, creating all kinds of new ways to invest and grow their business.

The Results: 80% growth for Visible, and a new relationship with the future

Mike says Visible grew 80% in 2021 without “burn[ing] a single dollar.” Using Pipe each month has not only given Mike a much faster and more streamlined way to 

 but also new ways to think about financing many aspects of the business, from growth to new hires and marketing campaigns. 

By reframing monthly and quarterly contracts as an annual value, Visible has tapped into capital without dilution or restrictive debt. And Mike says it dramatically shifted the company’s relationship with its own future. 

We’re able to think in years and not months because of Pipe

… Pipe’s been incredible for helping us keep control of our own destiny.” 

A new way to access capital has enabled Visible to think differently when it comes to hiring employees or launching marketing campaigns.

Learn how Visible.vc was able to grow their company 80% in one year without burning their cash reserves by using Pipe's growth financing.

Case Study: How Visible.vc grew 80% in one year without burning a single dollar

Say you run a startup that’s found traction and you want to keep growing. As the founder, CEO, or CFO of the company, you’ve probably spent some time thinking about the best way to finance your growth goals:

But things aren’t quite like you thought they’d be when you started your last round of planning. Due to a host of factors, markets all over the world are in a state of flux, leaving business and startup financing in limbo too. So what should you do?

First, take a breath. Then, take a look at the current economic climate for companies looking to secure financing—and consider how you can get strategic about building a resilient capital stack while taking the particulars of your business into account.

The current startup financing environment 

Founders and CFOs of equity-track businesses looking for the next round of venture capital have all heard the rumblings: Access to VC for post-seed-stage companies is tightening  as many investors are limiting their deployment of cash in a wait-and-see manner. Put simply, for many companies, raising a round today is tougher than it was yesterday—and if you can land a deal, it may not be a great one. 

If you didn’t already have contingency plans in place to access cash if venture funding doesn’t come through, then you’re probably among the founders and CFOs trying to think through alternative forms of financing. 

 break-even, and make the current money they have last without knowing when they’ll have access to more. Some are figuring out how to have a successful conversation at the more-challenging negotiating table. And just about everyone is thinking about their options for accessing capital while we see how the markets shake out.

How your capital stack can help you weather the storm

Founders and CFOs can get ahead of the challenges presented by a difficult equity market (and general economic question marks) by being especially strategic about how they finance the company, whether they’re aiming for growth, cementing stability, or balancing both. 

And one way to do that is by taking a fresh look at all your financing options, starting with the company’s current capital stack—and exploring what you need to round it out and optimize for resilience.

, and other funding and capitalization methods used to finance a company’s overall operations and growth. Your capital stack can include traditional financing methods like angel and seed round investments, your Series A and beyond, bank loans, 

 (also known as revenue-based financing or RBF). It can also include alternative financing methods, like recurring revenue financing from Pipe.

Why think of your financing as a capital stack? Because businesses in different industries and at different stages of their lifecycle may need various capital strategies to reach their goals.

Learn more about more types of  business financing, including SaaS financing, in our guide to building your startup’s capital stack. 

Cost and risk of different capital options

Each type of capital plays a different role in the capital stack. 

arises from ownership shares in a company and claims to its future cash flows and profits, and is often used for major investments with a longer-term ROI, like 

 comes in the form of bond issues or loans (whether venture debt, startup loans, or beyond), and can help you finance operations and initiatives without 

, as long as you have the predictable cash flow to reliably service the loan payments. Uniquely, 

through Pipe's trading platform lets you fund growth and operational needs by treating your recurring revenue as a tradable asset so you can access dilution-free capital. (More on that to come.)

So how does repayment work? Returns on investment are repaid starting at the bottom of the stack. The higher up the in stack the investor or lender, the bigger risk they incur—and typically the more costly their capital.

Equity is always at the top of the stack—the pay back is slower, but the cost to your company can ultimately higher if the value of your company grows. While equity investors hope to get a big return from successful investments, they often wait years to see that value materialize—and if the company fails, they won’t be paid back at all. Big risks, but big potential rewards for them—and big capital infusions, but big potential equity loss for you.

Below that layer, debt-holders like banks are more certain of repayment, and often take a slightly smaller reward for their lower risk level, typically in the form of interest and fees.

Traditional financiers—think: lenders and investors—generally want to see where they fit in to your capital stack to see where they are in your hierarchy of funding. This helps them calculate their potential return on investment versus level of risk—and may impact your cost of capital. 

What founders should consider when financing a business

A big part of your job as a founder or CFO is to determine the best capital stack for your goals. What that means will vary, but often it translates to figuring out how to minimize the equity you give away—and the restrictions you take on—while still enabling growth and maximizing profits.

For many companies, selling some equity is the usual course of action to take at certain times during the business’s journey. For other companies, equity is off the table, for whatever reason—and for those folks, taking on debt has traditionally been the move. But during an economic downturn, both equity and debt can come with less favorable terms—including things like higher interest rates on business loans, more restrictive covenants, and less cash on the table in a funding round.

In a tricky market, consider what capital decisions will enable your goals today—and set you up for financing success tomorrow, or whenever the markets next shift. Some key things to keep in mind are:

Recurring revenue financing can change the game

, which is ultimately a loan based on your revenue streams, recurring revenue financing treats your revenue as a tradable asset that you sell to investors.

If your company generates income from recurring revenue streams, then recurring revenue financing (or RRF) could provide a great opportunity for you to access the capital you need without giving up ownership shares or taking on traditional, restrictive debt. 

Algorithms perform due diligence almost instantly, so companies can stay agile and 

access capital in hours instead of weeks or months

. RRF can also be a strategic way to capitalize your business when other options aren’t as accessible—or as favorable—to your scenario as they might be at other times… perfect for times like these.

How Pipe’s recurring revenue financing works

Pipe is the world’s first trading platform for recurring revenue. Through Pipe’s trading platform, you can effectively turn your MRR into ARR by pulling forward a portion of your 

—cash you can then use to fund your daily operations and growth goals. 

How does it work? Institutional investors bid on your anonymized revenue streams to buy them like an asset. They don’t buy equity, which preserves your control over your company, nor the underlying customer contract, which means there’s no disruption to your customers’ experience. Instead, they give you up-front capital today at a slight discount in exchange for the right to the cash from those revenues as they come in. This gives you flexible access to capital at a low cost and gives investors stable, fixed-income–like returns.  

Once you sign up to trade on the Pipe platform and connect your accounts you can receive a trading limit (how much capital you can access at a given point in time) and bid price (that’s how much capital you can access right away and at what price). Receiving a trading limit and bid price is not an obligation to trade, and these numbers will be automatically updated each month based on your business’s performance, so you can always see what’s available to you.

Your capital stack doesn’t have to be an either/or decision—traditional and alternative financing, equity plus recurring revenue financing plus venture debt… Today there are more options than ever. When the markets and economy are rocky like they are now, optimizing your capital stack for resilience may mean diversifying to ensure you have options even if one type of capital dries up.

Some pre-revenue and very-early-stage companies self-fund or bootstrap, but many are more likely to be heavily reliant on equity, since they don’t yet have predictable cash flow to pay back other financing. Once a company has revenue coming in, business loans and venture debt are often used between equity rounds to extend runway and finance growth without further dilution. 

For companies with recurring revenue, Pipe is an alternative to loans and venture debt, allowing you to grow your business while holding on to as much equity as you’d like. By leveraging the predictable nature of recurring revenue contracts, Pipe gives you access to capital from institutional investors without the 

 that can come with traditional debt. (Keep in mind that those warrants and covenants aren’t just fine print—they can have real impacts on your business. It’s especially important during times of economic and industry uncertainty to understand their impact, and when they might kick in.)

, which is only available to venture-backed companies, Pipe is available to venture-backed, debt-funded, and bootstrapped companies alike. That means it can work alongside equity or even replace it as your financing source, depending on what you deem best for your business.

With all your options in front of you, you can assess and choose the right source (or sources) of financing at the right time. Whether that means optimizing for something ideal for your stage of business growth, a stack prepared for the current economic environment, or ideally both—having a strategic approach and knowing what you’re working with can help you build a capital stack for the ages.

companies, and more. Want to get started? 

As venture funding gets tougher to come by and the economy gets rocky, it could be time to revisit your capital stack.

Learn how non-dilutive financing through Pipe's trading platform can provide SaaS, D2C, service, and media and entertainment companies with fast, flexible access to capital—even when the economy gets rocky.

Building a resilient capital stack in a turbulent market | Pipe Blog

Building a resilient capital stack in a turbulent market

How to build a resilient capital stack in a turbulent market | Pipe Blog

 like Pipe can both be sound options. To make the best decision, it’s important to understand how they stack up in terms of impacting your finances, how fast you can access funding, and your cost of capital.

Flexibility is also a key piece of the puzzle. Using Pipe to pull forward your recurring revenue streams allows you to leverage a powerful asset—your recurring revenue—to capitalize your business without the restrictive terms of a loan.

Let’s take a look at how Pipe and loans compare, and what might work best for you.

Loans are simple cash transactions to be paid back with 

. They’re generally non-dilutive and can provide you with capital in a fairly straightforward way. They’re also accessible for founders almost everywhere, unlike 

 which can be harder to tap into if you’re outside VC hubs like Silicon Valley, or major cities like Los Angeles and New York.

Digging in a little deeper, taking on debt in the form of a loan can be a positive signal to the market. Why? Because it shows that a company is both deemed creditworthy by the lender and pursuing growth opportunities. Loans can also help you keep your weighted average cost of capital (WACC) in check, which can increase your valuation and lower your risk profile for stakeholders.

Despite their benefits, there are some big drawbacks to loans that can be tough for your company as you scale. Generic repayment terms are tailored to the lender—not you, the borrower. The high cost of capital and slow approval process are also factors to keep in mind. Not to mention the restrictive covenants and warrants that can act like a ball and chain on your business. (More on that in a minute.)

Bottom line up front? Trading your recurring revenue on Pipe for up-front capital may offer similar accounting benefits to a loan (check with your accountant!)—but with a lot more flexibility and speed.

Today’s markets move fast—and if you want to compete, you need to be nimble. This means you need a cash position that allows you to take quick action on agile strategic decisions. If you see the right opportunity to grow your business, you don’t want a lack of liquidity to hold you back—you want to be in a position to go ahead and take the leap.

Traditional debt products—like startup loans, SBA loans, and business loans—can’t often provide that speed and agility. Loans usually require a lengthy and manual financial due diligence process, which can make your funding process take three to six weeks or more. It’s an important and responsible step, but it feels like a lifetime when you’re watching your cash balance deplete and your competition gain the upper hand because they had enough cash to move right away.

Pipe helps you move at a different pace. By connecting securely to your financial systems, we’re able to fully assess your finances in a fraction of the time. Unlike a loan qualification process—which is manual and slow-moving—

, algorithm-driven, and fast. You’ll know how much capital you can access within about 24 hours, not several weeks, and can access it right away once you have your trading limit. Moving forward, Piping additional revenue is as simple as selecting the balance you’d like to use and clicking “Trade”.

Pipe and loans can both provide working capital without dilution—but 

, exactly when you need it. With Pipe, all you have to do is complete your sign up, connect your systems, and you’ll have a trading limit accessible in as few as 24 hours. Loans often take three to six weeks or even longer to come through.

Maybe the most substantial consideration with loans is restrictions. Loans come with conditions designed to protect the lender. Fair enough—but these can hurt your financial agility and flexibility and can even put dilution back on the table. This is serious, impactful stuff that’s often in the fine print, so let’s take a closer look at how it works.

The first of these protections is covenants. Covenants are conditions that restrict your financial behaviors in the interest of the lender. They can restrict you from borrowing more money, selling certain assets, or allowing certain financial ratios to pass a given threshold. If your goal is to be agile, responsive, and in control of your business’s financial future, external constraints around how you get or spend money can leave you with your hands tied. (Pipe doesn’t come with any covenants.)

Covenants also come with heavy-weight reporting requirements—to the point that many companies have to hire staff just to manage these extensive processes. Since Pipe is securely connected to your financial systems, there’s no need to do those manual monthly or quarterly reports required to service a loan. And that means time, money, and energy saved for you and your company.

Warrant coverage, also known as an “equity kicker,” is another consideration. Warrants give the lender the right to a set amount of stock in your company at a predetermined price. If the value of your stock goes up, so does the value of what you’ve given away and the likelihood the lender will exercise those warrants. This can seriously dilute your ownership and the value of your stock, impacting founders, investors, and employees in the process.

Warrants are more common with venture debt and provide protection to the lender or investor should you default or fall behind on repayments, and an upside for them if your company grows and your share prices increase. This means that in good or bad times, you could find yourself giving up equity in your business when it wasn’t part of the plan.

With Pipe, there are no warrants or covenants and very minimal restrictions on your company. Pipe exists to 

 when it comes to growing their businesses on their own terms: You’re free to make the financing decisions that work best for you.

With Pipe, you can skip the risks and restrictions of warrants and covenants and protect your ownership interest. Pipe’s automated integration with your business means no need for tedious reporting requirements. You can run your business on your own terms.

What about reducing your cost of capital?

Another area where Pipe and loans diverge is the cost of capital—which can have a significant impact on you and your business.

Business loans come with interest rates and fees inherent to the traditional banking process. Pipe isn't a lender, so fees are minimal and interest is non-existent.

Pipe is a trading platform that gives you direct access to the capital markets. This means Pipe is able to provide you with cash up front by anonymously matching your company with institutional investors who bid directly on your recurring revenue streams, at an average of .92 to .98 cents on the dollar (or .92 to .98 pence on the pound). This keeps your cost of capital low and frees up your cash for additional investment in your business. (We’ll take a deeper look at how Pipe impacts 

capital with more flexibility than a loan

, at the best possible price. Because Pipe isn’t a lender, there’s no cost of capital to pass on to you. Instead, Pipe’s platform connects you directly and anonymously to institutional investors who are willing to bid on your recurring revenues when you want, with bid prices typically improving the more you trade.

A major pain point when taking on debt and using loans to finance a company is the impersonal nature of repayment terms. Traditional repayment terms can put pressure on your cash flow—sometimes, at just the wrong moment. (Plus, when you have a loan with variable rates, it might work in your favor today—but hit you where it hurts tomorrow.)

Loan repayment terms are generally tailored to the lender, not to the timing of your cash flow. Not only can this strain your finances in the short term, but it can lead to cycles of borrowing, playing catch up, and even falling prey to predatory lending schemes. These can all damage the health of your business and leave you in a difficult financial position.

With Pipe, cash flow is factored into the repayment process. You’ll pay back what you pulled forward, based on timing of your recurring revenue streams—so that it really works with your business cycle.

By connecting with Pipe, you can avoid the cash flow bind often caused by servicing debt. Pipe’s payback terms factor your cash flow into repayment to keep things manageable for you—not to meet a lender’s requirements.

Absolutely. Pipe can be a complement to debt (including loans like business loans, 

, or lines of credit) as well as equity, and can be layered into your bootstrapping strategy. We know that founders need as much flexibility as possible to build the right capital stack—so Pipe is designed to work happily along with, or in place of, other financing options. The goal is always to help you grow your company on your own terms, whatever those terms might be.

Pipe is an alternative financing option that provides similar benefits to a loan without the drawbacks. You can use Pipe to access the cash you need, when you need it, without the restrictions and costs of loans. Whether you choose Pipe as a standalone option or part of your capital stack, it can help you tap into the flexibility and speed you need to grow and scale your company on your terms.

Ready to see how Pipe can work for your business? Explore use cases for 

This post was originally published in November 2021 and updated in July 2022.

Nope! Discover how Pipe's trading platform differs from a loan and when each could be a good fit for your business.

Learn about the difference between equity financing and Pipe—a non-dilutive financing alternative for SaaS, D2C companies, service businesses, and more. 

Pipe vs. Loans | Pipe Blog

Is Pipe a loan?

, and other companies with recurring revenues that offer customers annual discounts to pay up front as a cash flow strategy can face steep downsides. Let’s talk about why companies offer annual discounts, the impact those discounts have on businesses, and how you can give customers the payment terms they want—without sacrificing cash flow or your top line.

There are plenty of reasons to offer discounts—maybe you’re clearing out your inventory, running a seasonal sale, encouraging trial signups at a lower rate, or even helping students, healthcare workers, or first responders get easier access to your product or service. Discounts aren’t inherently bad or good—no one knows your business better than you, which means you’re also the one with the most insights into a discount’s rationale.

Sales, clearances, and special offers that help you manage your business or support your community are always going to be around, and can make sense and have positive effects in many instances. 

But there’s another kind of discount to think about too: the annual discounts many companies give customers to get them to pay up front rather than waiting for monthly or quarterly payments to trickle in. These discounts can have outsized impacts on your business. Let's take a closer look.

Annual discounts can diminish revenue and profits

While discounts are a common strategy to improve cash inflow, companies often offer customers up to 15–30% off to incentivize those up-front yearly payments. It feels good to get the cash boost when the payment comes in—but those percentages are big numbers that can cut deeply into both revenue and profits. 

Read a related piece from the Pipe archives: Rethinking the up-front annual contract in a cash flow-conscious world

When you’ve cut the price of your product or service by ~25% to get a lump-sum payment, you’re no longer charging the full monthly rate—which, of course, means you’re also not bringing in what should be the full annual rate. That also means you can’t recognize the full contract value on your financial statements, and your top-line and other numbers could take a hit.

If you don’t offer those annual discounts, you may be able to recognize the full contract value on financial statements. This can help you maintain your 

 . All of this can support the financial health of your business—which can mean better terms sheets when raising equity or other capital, and a higher trading limit on Pipe.

Annual discounts can degrade customer value—and the perceived value of your offering

 discounting can also damage the customer’s perception of what your product or service is worth. Think about it like this: The discounted rate becomes a new price anchor—a lower one. If a customer can pay $75 for what you offer, why would they want to pay $100? By defaulting to discounts to encourage sign-ups and annual payments, you effectively devalue your offering and can make the full price seem too high. 

Do annual discounts incentivize recurring payments?

Chances are that if you’ve got customers paying annually, you’re also doing the right thing and sending them a reminder before their yearly payment is due. Sure, there’s something to be said for a “set-it-and-forget-it” strategy. But as everyone knows—since we’re all customers ourselves—this can also backfire. Even with an annual discount, a steep payment once a year can give customers pause when they see that upcoming payment reminder. How many times have you canceled a pricier subscription because you just didn’t want to spend the cash right now?

If your response is to offer them discounts—as we’ve covered, you’re not alone. But instead of those discounts, you can embrace the strategy of allowing customers to pay on the timelines they prefer… at the prices that are truly right for the health and sustainability of your business. How? Keep reading.

So, we know that discounts can get customers to pay up front, which can help your cash flow—but that the downstream effects of regularly undercharging for your product or service can be pretty heavy. How can you solve the cash flow problem and the discount problem?

With Pipe’s recurring revenue trading platform, you can let customers maintain, for example, monthly or quarterly payments while you pull forward the annualized value of their contracts (and sometimes more!). This gets you access to funds when you need them—at a far lower cost than steep annual discounts—with no impact to your customers. 

Another plus? You can sidestep the potential negative impact on the perceived value of your offering or a downward push on your future pricing. By charging the 

 amount for your offering, you can see more profit down the road—leading to a bigger cash cushion, more runway, and an overall healthy and more enduring business. 

Ready to stop offering discounts while still getting your cash up front? 

 to get approved and see your trading limit (that’s how much capital you can access) and bid price (that’s how many cents on the dollar or pence on the pound you can pull forward). There’s no obligation to trade, and every opportunity to grow on your terms. 

A look at how discounts can impact your revenue, top line, and profits—and how up-front, non-dilutive capital can help you avoid pitfalls.

Learn how to use Pipe’s recurring revenue trading platform to pull forward your revenue streams for up-front capital so you can avoid the unnecessary pitfalls of providing annual discounts to your subscription customers. 

Avoiding the downside of discounting | Pipe Blog

Should you offer customers annual discounts?

With unlimited PTO, flexible working hours, and a globally distributed, remote-first team, Pipe rises to #4 in the sector. 

Pipe Named an American Banker Best Place to Work In Fintech for Second Year

For the second year in a row, Pipe has been recognized as one of the top fintech companies to work for. After coming in #6 on the 2021 list, Pipe moved up to the #4 spot on American Banker’s 

While remote work has been a challenge for many companies throughout the pandemic, Pipe publicly launched the world’s first recurring-revenue trading platform in June 2020 and has built a remote-first and fully distributed company from day one. That remote ethos has helped them attract and retain top talent from around the world, with team members currently distributed across North America, the UK, Eastern and Western Europe, Central Asia, and Australia. 

Between the 2021 and 2022 awards, Pipe’s team of “plumbers” grew from 30 to just over 100, with about half in the US and the rest distributed internationally. 

“Our intention has always been to build a truly remote team and understanding that we’re not trying to [just recreate] in-office norms,” said Anna Moghaddam, Director of People Operations. This has meant embracing people-first company norms, like flexible work hours, unlimited PTO, high-quality health benefits and family leave, and supporting work/life balance with company holidays and perks like “Summer Fridays.” 

“The flexibility and freedom our people have to be able to work from anywhere also means we [strive to] continuously raise the bar for our overall communication—company-wide and individually,” said Moghaddam.

Pipe has built a globally distributed team in order to find the best talent to build category-defining liquidity infrastructure for recurring revenue businesses. Pipe’s cash compensation package is based on a "work from anywhere” philosophy, giving employees the flexibility to live and work where they choose without impact on their pay.

“A major contributing factor to our remote success so far is that our people are not only excited about our product, mission, and vision, but the opportunity to collaborate with people from all over the world,” said Moghaddam. 

If you’re interested in learning more about career opportunities at Pipe, 

With unlimited PTO, flexible working hours, and a globally distributed, remote-first team, Pipe rises to #4 in the sector.

Pipe named an American Banker Best Place to Work In Fintech for second year

Pipe Named An American Banker Best Place to Work In Fintech for Second Year

Speaking with PYMNTS, Hurst, explored the opportunity for FinTech to step in and connect SaaS companies to financing by treating their subscription contracts as an asset class that can be bought and sold — a strategy, he noted, that brings the value of cash flow predictability to financiers.

Wielding SaaS’s Revenue Predictability For Faster Financing

The company worked with Compass Mining for several months before launching the product.

Trading Platform Pipe Launches Alternative Financing Solution for Bitcoin Miners

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.

This Pipe-ing hot startup just raised $50M to be the ‘Nasdaq for revenue’ – TechCrunch

Pipe Technologies, the one-year-old platform for companies to trade monthly recurring revenue for upfront annual revenue from yield-seeking buy-side investors, announced a strategic financing round on Tuesday consisting of a who's who of individuals and companies to fuel the company's global expansion.

The 'Nasdaq' for trading recurring revenue gets backed by Benioff, Palihapitiya, Shopify

Pipe, creator of a first trading platform for recurring revenue streams, brought in $50 million in strategic equity funding to expand.

‘The Nasdaq For Revenue’ Startup Pipe Pulls In $50M Equity Round

Recurring revenue is rising as its own asset class and one that deserves a new financing model.

The Case for The Recurring Revenue Asset Class

“Software contracts are better than first-lien debt. You realize a company will not pay the interest payment on their first lien until after they pay their software maintenance or subscription fee. We get paid our money first. Who has the better credit? He can’t run his business without our software”- Robert Smith

Recurring Revenue: The Rise of an Asset Class

Today announce that Pipe has acquired Purely Capital, a media and entertainment financing company, and is launching a new Media & Entertainment division on the platform.

Pipe Expands into Media and Entertainment Financing with Purely Capital Acquisition

, creator of the world's first trading platform for recurring revenues, today announced that it has acquired Purely Capital, a media and entertainment financing company, and is launching a new Media & Entertainment division on the platform. This new division will help producers, rights owners, and distributors drive immediate up-front revenue from their long-term licensing contracts from investment-grade streaming services and broadcasters, including Amazon, Netflix, and Disney. The acquisition is a further step in Pipe’s mission to be the trading platform for any company with recurring revenues—regardless of industry—that’s looking to fund its growth on its own terms, without restrictive debt or dilution. 

Streaming services and broadcasters typically license content for two to five years from a production company, distributor, or other rights holder and pay quarterly installments over the length of the licensing period. Production companies and distributors are slowly drip-fed the revenues that they’ve earned, limiting their ability to invest in making or acquiring new content. At the same time, spending and demand for content are at an all-time high, driven by soaring subscriber growth on global streaming platforms. Streaming companies spent $220 billion on content in 2020 and an estimated $250 billion more in 2021—the acquisition of independently produced content accounts for 65.5% of the total spend.

Wayne Marc Godfrey, the founder and CEO of Purely Capital, has assumed the role of general manager of Pipe’s Media & Entertainment Division and has been joined by co-founder Dan Abrams and the rest of the Purely team who will help operate the new division. Wayne is a leading expert in entertainment financing and rights acquisition as well as a prolific film producer. Purely originated the purchases of over 250 titles from its customers, representing over $45 million in revenues. As part of Pipe, Wayne and his team can now further accelerate the business by connecting producers directly with Pipe’s institutional investors on the platform, with the capacity to now fund billions of dollars in revenues.

“Pipe has built the capital markets engine to connect recurring revenue-generating assets to institutional investors seeking yield,” said Harry Hurst, co-founder, and co-CEO, Pipe. “We are excited to announce the acquisition of one of the leading originators of these assets, Purely Capital. We met Wayne and his team a little over a year ago and have watched the incredible job they have done scaling their business with limited resources. Now, operating under the Pipe platform, we’re confident we’ll be able to continue to tap into this $250 billion/year market and provide a host of financing solutions and a truly category-defining service for the creatives and rights owners that make up this exciting market.”

With the acquisition of Purely, Pipe’s institutional investors will bid on producers’ long-dated revenue streams, providing up-front capital, and will be paid back over the course of the license period. This lets producers bridge funding gaps and deliver vital and immediate cash flow to creatives and rights holders. Content producers and distributors now no longer need to liaise with the accounts departments of major global businesses or wait years for the funds to kick start their next production or acquisition. For further information please visit 

“I am honored to be joining the Pipe team to empower media and entertainment companies to seize control of their long-dated revenues, accelerate the growth of their business, and stretch the boundaries of their creativity,” said Godfrey. “I’ve been passionate about finding new ways to help creators with their entertainment financing needs and long believed that the access to financing needed an overhaul in order to turbo-charge creators. Technology is the best solution for this. It drives nearly every other aspect of the entertainment industry, from how content is produced, to how it is distributed and consumed, and it only makes sense to bring finance into the digital age through the incredible platform that Pipe has built.”

Pipe is a trading platform that enables entrepreneurs to grow their businesses on their terms. By treating recurring revenue streams as an asset, Pipe allows companies to transform their recurring revenue into up-front capital, instantly. For entrepreneurs, that means more cash flow for scaling their business without debt or dilution. For investors, Pipe has unlocked the largest untapped asset class, revenue. Whether you're an entrepreneur or an investor - Pipe is growth on your terms. To learn more visit 

Creator of the world's first trading platform for recurring revenues, today announced that it has acquired Purely Capital, a media and entertainment financing company, and is launching a new Media & Entertainment division on the platform.

To make this a reality Hurst, and co-founders Josh Mangel and Zain Allarakhia founded Pipe Technologies in 2019, and in February launched a platform where SaaS founders could sell quarterly or annual subscriptions to bankers looking for alternative high yield investments.

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