Pipe Expands Capital-as-a-Service Capacity to More Than $1 Billion Per Year with a New $100 Million Credit Facility from Victory Park Capital

SAN FRANCISCO and CHICAGO – June 11, 2024 – Pipe, the modern capital platform for fast, frictionless, dilution-free funding, today announced the close of 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, enabling access to capital for millions of small and medium-sized businesses (“SMBs”) historically lacking traditional financing options.

“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,” said Luke Voiles, CEO of Pipe. “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’s recently launched embedded Capital-as-a-Service solution for vertically integrated software vendors and payment companies has already garnered support from leading platforms, including Priority, Infinicept and Boulevard, representing nearly one million merchants with over $140 billion in gross payment volume.  

“Pipe and VPC share a similar mission of providing capital solutions to businesses that have previously been overlooked by traditional sources of financing,” said Tom Welch, Partner at VPC. “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.”

Through Pipe’s infrastructure and APIs, partners can seamlessly embed Pipe’s proven capital offering into their own ecosystem, improving merchant experience and monetizing payments in a mutually beneficial way. End merchants can then access capital easily based on their secure transaction data from the partner platform, bypassing many of the hurdles of traditional financing.

About Pipe

Pipe is the modern capital platform that connects entrepreneurs and business owners to fast, frictionless, dilution-free funding. Pipe turns all forms of revenue into up-front working capital to help companies improve cash flow, scale operations, and grow on their terms. To learn more, visit www.pipe.com or follow us on X @pipe.

About Victory Park Capital Advisors, LLC

Victory Park Capital Advisors, LLC is an SEC-registered, established credit manager. The Firm was founded in 2007 and is headquartered in Chicago, Illinois, with additional resources in New York, Los Angeles, San Francisco, and London. VPC provides custom financing solutions across the private capital spectrum, focusing on companies with strong corporate governance and a compelling growth trajectory. VPC invests in emerging and established businesses across various industries worldwide. For more information, please visit www.victoryparkcapital.com.

Media Contacts


Merrill Freund


Victory Park Capital

Jordan Niezelski, Edelman Smithfield