Peach Announces Pipe Partnership to Power Working Capital Solutions
June 20 2024 - 6:00AM
Business Wire
Peach Finance, the leading modern servicing technology platform,
today announced its partnership with Pipe, helping the modern
capital platform power its working capital solutions.
Pipe, which has raised more than $300M in venture funding,
provides small and medium-sized businesses (SMBs) with access to
fast, frictionless, dilution-free financing. The company has
offered its working capital solutions directly to businesses since
2020, and recently announced an expanded capital-as-a-service
solution, enabling it to reach millions of SMBs through an embedded
offering for independent software vendors (ISVs) and payment
companies. Pipe also announced that it had entered an agreement
with two major capital providers, enabling it to fund more than $1
billion in originations through its capital-as-a-service
offering.
In 2023, Peach was selected as a key infrastructure provider to
power Pipe’s working capital solutions. Pipe’s requirements for a
servicing technology partner included a proven track record of
performance with enterprise clients—and a product velocity matching
their own. Peach's platform provides the system of record for
balance and payment management, a key component of Pipe's servicing
needs.
“Pipe is committed to making capital and financial tools more
accessible to small businesses,” said Luke Voiles, Pipe CEO. “We
lean on partners who are experts in their field, and servicing
technology is a critical piece of that infrastructure. We have
partnered with Peach to provide the flexibility to scale our
embedded capital product.”
One of Peach’s key differentiators is its API-first and fully
configurable architecture. Once Peach was identified as Pipe’s
vendor of choice, Peach configured the product in a single week.
Pipe then built the integration over the subsequent six weeks,
dedicating just two engineers, and had their production instance up
and running in under two months.
About Peach
Peach Finance is an API-first technology platform powering
innovative lending and credit programs for many of today’s leading
innovators, including Square, Remitly and Lendable. Peach is the
only lending platform built on an Adaptive Core™, a new paradigm in
loan management helping fintechs and traditional financial
institutions quickly launch and confidently scale configurable
lending programs. Peach is also the innovator behind the industry’s
only Self-Service Portfolio Migration™ capability.
The company’s fully integrated suite of cloud-native products
includes a loan management system that supports virtually any
non-mortgage asset class and features 250+ configuration variables;
a suite of proprietary servicing tools, including a
lending-specific CRM, borrower portal, agent portal, payment
processing, communications, reporting and first-party collections
tools; and Compliance Guard™, a proprietary compliance monitoring
system. Peach’s mission is to improve lives by giving every lender
the power to innovate. Learn more at peachfinance.com.
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 @pipe on
X.
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Peach media contact press@peachfinance.com