Pipe originated $300M in merchant cash advances in the last two years, the company revealed. The figure was presented in its announcement that it has raised a fresh $16M round of capital. The $300M in MCAs was spread across 15,000 merchants.
“Pipe has built the infrastructure that tiny business financing should have had from the start; AI-native, partner-embedded, and easily accessible for the tens of thousands of businesses that have been notified for too long they’re not worthy of capital,” declared Pipe CEO Claurelle Rakipovic in the official release. “Pipe has kept its ambition while operating with a clear focus on the customer and fiscal discipline. That combination puts us in a powerful position. This new capital gives us the fuel to shift rapider on what’s already working as we continue to create a better future for tiny businesses.”
Pipe’s funding volume is actually lower than it utilized to be. In 2021 they shared that they had originated $1.2B in MCAs in a single year. At the time Pipe marketed itself as the “Nasdaq for revenue” and called its employees “plumbers” instead of sales agents, underwriters, and engineers. After raising $300M at a $2 billion valuation, fintech reporter Jason Mikula shared that the company had generated only $7.1M in revenue in 2024. Layoffs followed.
The new announcement states that revenue tripled in 2025 and that its “embedded financing” product relaunched in 2024. With the $16M round and several new board members, the company appears to be on a corrective return back up.
Last modified: April 9, 2026
Category: merchant cash advance
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