Trading platform company Pipe recently announced that it has launched operations in the U.K. as part of its global expansion plan.
This has has been an explosive year for the company, a press release stated, with over $300 million of equity financing from investors including the likes of Shopify, Slack, Okta, Hubspot and Next47, and this new expansion will help further accelerate growth.
"I left the UK for the United States seven years ago as it provided the best funding environment to build my first technology company, and it is enormously gratifying to bring those same opportunities to the burgeoning ecosystem of technology companies in the UK," Harry Hurst, co-founder and co-CEO of Pipe, said, according to the release. "If Pipe existed a decade ago and offered company-friendly financing options, I might never have left the UK."
Pipe has hired two tech veterans to support this expansion. Brad Coffey joins the company as Chief Customer Officer, where he will oversee growth and expansion of verticals beyond Pipe's initial launch market of SaaS. Sid Orlando has been hired to oversee heading up content and raising global awareness of the benefits of alternative finance.
The UK is the company's second market after the U.S. and a number of UK companies were already trading revenue on the Pipe platform making the expansion a logical move.
In all, over 8,000 companies have signed up on the Pipe trading platform with more than half of the trading volume coming from non-SaaS vertical markets.