Pipe, a capital platform for fast, frictionless, dilution-free funding, closed a $100 million credit facility from Victory Park Capital (VPC), a global alternative investment firm specializing in private credit. The facility, which has the potential to upsize up to $200 million in the future, will support Pipe’s capital-as-a-service solution.
“We are thrilled to be partnering with Victory Park Capital. This additional capital will allow us to expand our existing capacity to more than $1 billion per year in originations for SMBs,” Luke Voiles, CEO of Pipe, said. “Our goal is to provide these businesses with an unbiased, simple, user-friendly way to access capital, helping them to pursue their growth ambitions. This new facility will pair with our existing $200 million facility to support our full potential.”
“Pipe and VPC share a similar mission of providing capital solutions to businesses that have previously been overlooked by traditional sources of financing,” Tom Welch, partner at VPC, said. “We’re excited to partner with Luke and the rest of the Pipe team, who bring deep experience in building, launching and scaling financial technology products.”
