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Peach Finance Announces Pipe Partnership to Power Working Capital Solutions

June 21, 2024, 07:00 AM
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Related: Fintech

Peach Finance, a leading modern servicing technology platform, 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.

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