Pipe, creator of the world’s first trading platform for recurring revenues, today announced it has expanded its sales and engineering team with several new hires drawn from the who’s who of the financial technology industry. The infusion of new talent from Kabbage, which created an automated platform for small businesses to get direct funding, and Stripe, the world’s most valuable private fintech company, will accelerate adoption and help expand Pipe’s trading platform offerings. The expansion of the Pipe team follows Pipe’s recent funding round, which included Marc Benioff, Michael Dell, Chamath Palahapitiya, HubSpot, Okta and Slack, further highlighting Pipe as a company to watch in the fintech market.
Pipe’s trading platform for recurring revenues is ideal for entrepreneurs and companies that want to grow without dilution or debt by trading its contracts that generate predictable recurring revenues for upfront capital. For institutional investors, Pipe provides access to the world’s first trading platform for recurring revenue contracts, which have a similar profile to fixed-income products.
Pipe has hired the original Kabbage sales team who helped scale the business to over 130,000 small businesses. The team is led by Noel Hillman, who was the head of sales and operations for Kabbage for almost four years, where he helped the company scale from $300 million in originations to $3 billion. As Pipe’s Vice President of Sales, Hillman will oversee the sales team as well as manage the Atlanta office, which is Pipe’s latest microhub, joining existing hubs in Miami, New York City, Texas, Los Angeles and Europe.
“Noel Hillman and his team’s proven ability to deliver growth on a massive scale at Kabbage is in perfect alignment with Pipe’s mission to empower entrepreneurs with the funds they need to build their business on their terms,” said Harry Hurst, co-founder and co-CEO, Pipe. “The biggest obstacle to recurring revenue as an asset class is how entrepreneurs currently view their capital stack and we intend to change that so that it is a clear driver of growth for organizations ranging from early revenue to mid-market all the way to public companies.”
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Pipe has also added a number of key members of the Stripe engineering team who helped develop core treasury and bookkeeping platforms to make it the world’s most valuable private fintech company. Leading the engineering team is Usman Masood, who spent over four years at Stripe as a staff engineer and engineering manager. Prior to that, Usman was Chief Architect at PipelineDB, which was acquired by Confluent.
“Usman Masood and his team have unmatched technical expertise and proven experience in developing fintech infrastructure that has completely disrupted the market,” said Zain Allarakhia, co-founder and CTO, Pipe. “They will enable us to further extend and improve the platform’s design and user experience to drive even further value for any company with recurring revenues and the investors who want to invest in this untapped and rapidly growing asset class.”
