Access to scaling/ working capital for small to midsize businesses is difficult to come by. Pipe is changing that by embedding their financial solution into the current workflow of small/ midsize businesses. This is literally a game changer. See Luke Voiles' post and the Fintech Nexus article to learn more.
Launching Pipe's Embedded Capital-as-a-Service today brings me back to my early days at Square Banking and Intuit, where the dream was always to democratize financial services. This service is a culmination of decades of lessons learned on the front lines of fintech innovation, aimed at breaking down the barriers for SMBs. We're setting a new standard for what it means to support business growth in the digital age.
Of course, redefining financial access for SMBs is no small task, and no one company can do it alone. Who better to partner with than the platforms that know these businesses best, and the software they spend their time in every day?
By embedding Pipe’s capital offering inside of platforms like Priority, Infinicept, and Boulevard, we’re putting capital access exactly where business owners need it most, which is a massive step forward in helping the small businesses that hold up our economy.
Here’s what Peter Renton at Fintech Nexus had to say this morning: go.pipe.com/442Cpob
Launching Pipe's Embedded Capital-as-a-Service today brings me back to my early days at Square Banking and Intuit, where the dream was always to democratize financial services. This service is a culmination of decades of lessons learned on the front lines of fintech innovation, aimed at breaking down the barriers for SMBs. We're setting a new standard for what it means to support business growth in the digital age.
Of course, redefining financial access for SMBs is no small task, and no one company can do it alone. Who better to partner with than the platforms that know these businesses best, and the software they spend their time in every day?
By embedding Pipe’s capital offering inside of platforms like Priority, Infinicept, and Boulevard, we’re putting capital access exactly where business owners need it most, which is a massive step forward in helping the small businesses that hold up our economy.
Here’s what Peter Renton at Fintech Nexus had to say this morning: go.pipe.com/442Cpob
Bravo Michael Palank, Luke Voiles and team!
But IMO the *real* opportunity number is more like 60+ million business entities when you dip down into the "hidden" micro-business strata.
We were working on a sub-SMB / Micro-business credit solution at several startups. It's a huge problem.
The barrier was, for us, a capital partner who understood the different, though statistically valid ways, of measuring credit default risk.
To scale such an offering it makes sense to create a marketplace or trading platform and take a small piece of the vig, independently measuring credit risk via "embedded" data collection and modeling, and AI is at a stage where this becomes super-interesting to train across massive foundational models.
This is brilliant, as long as the cost (via partners) can be kept "reasonably" low/affordable for the smallest of businesses, which are fragile already.
At Intuit we "discovered" how small most of this Nation's small businesses actually are. And also how poorly they're served by the lending community.
And yet they're the bread-and-butter economic drivers, consuming products and services in our neighborhoods and generally across the Nation.
They may have few employees but they have leveraged/outsized impact in the local economies.
Later at Planet Soho, we figured out how much more deeply this strata goes throughout our economy, but in a much larger sense, how this really defines the fabric of most businesses worldwide.
They are very small, capital constrained, and underbanked or banked in very unfriendly ways.
Sadly, so many of the mainline banks simply slap a "business" label on a consumer loan product, and run it out of the consumer bank. They revert to the FICO/creditworthiness of the principal, demand a PG, and call it a day.
Other "smb lenders" are really no friend to these small businesses. They have "easy approval" but they can charge 30% to 40% effective APR for short term cash.
It's not only unfriendly, it hamstrings the smallest of borrowers-if they can even qualify. It feels like hard money, or what we used to call usury or mob money. They do this because they don't understand how to measure and price for risk.
I'm excited to see how this and other models can relieve this pain across "the engine of our /the world's economies"
#goodwork#fintech#innovation
Launching Pipe's Embedded Capital-as-a-Service today brings me back to my early days at Square Banking and Intuit, where the dream was always to democratize financial services. This service is a culmination of decades of lessons learned on the front lines of fintech innovation, aimed at breaking down the barriers for SMBs. We're setting a new standard for what it means to support business growth in the digital age.
Of course, redefining financial access for SMBs is no small task, and no one company can do it alone. Who better to partner with than the platforms that know these businesses best, and the software they spend their time in every day?
By embedding Pipe’s capital offering inside of platforms like Priority, Infinicept, and Boulevard, we’re putting capital access exactly where business owners need it most, which is a massive step forward in helping the small businesses that hold up our economy.
Here’s what Peter Renton at Fintech Nexus had to say this morning: go.pipe.com/442Cpob
For SMBs, working capital is one of the most valuable solutions available. This could be a game-changer to allow more ISVs/platforms to white label and launch embedded capital offerings quickly while leveraging strong risk/underwriting processes.
Launching Pipe's Embedded Capital-as-a-Service today brings me back to my early days at Square Banking and Intuit, where the dream was always to democratize financial services. This service is a culmination of decades of lessons learned on the front lines of fintech innovation, aimed at breaking down the barriers for SMBs. We're setting a new standard for what it means to support business growth in the digital age.
Of course, redefining financial access for SMBs is no small task, and no one company can do it alone. Who better to partner with than the platforms that know these businesses best, and the software they spend their time in every day?
By embedding Pipe’s capital offering inside of platforms like Priority, Infinicept, and Boulevard, we’re putting capital access exactly where business owners need it most, which is a massive step forward in helping the small businesses that hold up our economy.
Here’s what Peter Renton at Fintech Nexus had to say this morning: go.pipe.com/442Cpob
Greetings to all our Finmag readers,
We are thrilled to share our feature article, "What Are Colorado's Influential Startups Transforming Transaction Processing in 2023?"
Follow this link to explore further: https://lnkd.in/gsJXWber
This piece shines a light on some truly inspiring startups that are revolutionizing the transaction processing space in Colorado.
Featuring:
Advanced Payment Technologies with their great contributions towards transaction processing in the Banking and Financial Services sector.
US Business Finance Corporation, revolutionizing commercial and financial services through transaction processing.
Summit Transaction Partners, providing significant transaction coordination and management services.
PayFrog is helping businesses save money and enable automated payment processing in the merchant services industry.
QRails, Inc. Co-Founded by Gerard Griffin and Laurence Molke, making it possible for businesses to deploy innovative payment solutions.
Banctek Solutions, offering reliable merchant services and competitive payment processing.
Agencia Allianz Consulting Sierrasegur Founded by Brendan M Coughlin, boosting financial services through innovative transaction processing.
Cornerstone Transaction Management Services, Co-Founded by Jessica L. Jaramillo, offering specialised services for real estate transactions.
First Payment International, Co-Founded by J. Carlos Ruiz, facilitating non-cash payment processing and related services.
PARAGON LOAN ADVISORS LLC with their consulting services assist in the sale or refinance of a property.
Deschutes Capital - Integrity, Knowledge & Relationships, an investment banking company specializing in various financing.
Read, share and let's recognise these brilliant minds making waves in the finance industry.
#TransactionProcessing#FinTech#ColoradoStartups#Innovation#Finance#Finmag
Business owners are an intrepid bunch, but funding your business shouldn’t feel scary or impossible. Reflecting on a career dedicated to compliance and operations in both fintech and traditional banking, today's launch of Pipe's Embedded Capital-as-a-Service feels like a testament to our belief that financial products can be both accessible and safe.
Here’s what Fintech Nexus is saying: go.pipe.com/442Cpob
Are you looking for a game-changer in the financial space? Are you curious about how fintech might disrupt the dominance of larger financial institutions? Look no further!
Startup Bubble has just published an eye-opening article exploring how innovative fintech might level the kicking field for smaller financial institutions. Featuring the incredible work carried out by Banks Best Rates, a tech financial organization based in Wentzville, Missouri. The brainchild of the brilliant founder Susan Greifzu.
Discover how Banks Best Rates, leveraging its partnerships with Zillow, Mortech, Bankrate, Service2Client and others, uses their patent-pending technology to give community Banks, Credit Unions, Mortgage lenders and other financial organizations a competitive edge against the giants of the field.
Dive into the story here: https://lnkd.in/eQ9ySjXP
Let's ignite meaningful conversations about this exciting innovation in fintech. How do you think it will change the face of financial services, especially for smaller banks and unions?
#FinTech#Finance#Tech#Innovation#Startups#Entrepreneurship#Banking#FinancialServices
With a forecast growth of 148% over the next four years, it looks like embedded finance will evolve significantly over the next year or two - a change driven by the integration of financial services into non-financial products and services. This article is a nice little look at what the industry is expecting over the next year.
The substantial growth projection in the embedded finance market signals a promising opportunity for potential investments or strategic partnerships.
I'm particularly interested in seeing how innovators will address user experience and authentication process challenges.
#EmbeddedFinance#FinTech#StartUps
Pipe Launches Embedded Capital-as-a-Service for Small Business | Fintech Nexus: While those of us in fintech marvel at all the technological innovation enabling its different facets, the reality is that embedded finance is helping ...
Thrilled to share that we’ve invested in Griffin a digital-forward, fully licensed UK bank. 🎉🏦
At first glance, it was easy to pass on this opportunity. Pre-revenue, regulated entity, ordinary shares, “crowded space”, etc. But after taking a closer look, we saw something truly special. Griffin has developed a highly-efficient full stack banking system in-house (higher margin, able to share interest income with clients), built trusted relationship with regulators from day 1 (which evidently, can never be underestimated), and amassed a strong team embracing a collaborative culture. It felt like a well-oiled engine ready to take off! We were also impressed by the resilience and grit shown by co founders David and Allen on the 7-year journey to obtain the full banking license - they really turned on the ‘extra hard’ mode in entrepreneurship.
While non-bank financial institutions are getting more tech-enabled, and traditional banks are reluctant to intermediate their direct relationship with customers, Griffin fills the blank space of fully licensed, API-first embedded banking offering that is user-centric and operationally efficient.
Now that Griffin is a fully operational bank, I can’t wait to see the rocket ship take off. 🚀
At Breega, we believe the future of finance is embedded - and Griffin has built some serious moat!
🎉 Today, Griffin is announcing a $24 million fundraise for its now fully operational UK bank. Following a successful mobilization period, Griffin is now ready to scale and enhance infrastructure to serve new and existing customers.
Offering a full-stack platform for technology-driven firms, Griffin provides banking, payments, and wealth solutions to businesses wishing to offer banking services without building the tech in-house. 🏦 With automated compliance technology and an integrated ledger, Griffin empowers customers to streamline financial operations while delivering top-notch service. 💼
🚀 Our UK-based Partner, Daniel Shellard says, "Griffin is exactly the sort of founder-led business that we look to back… and securing a UK bank license has them incredibly well positioned to power this generation of innovative financial products - and the next.”
We’re thrilled to be joining the Griffin ride, co-leading this round with MassMutual Ventures and NordicNinja VC, and joining co-investors Notion Capital and EQT Ventures.
👏 David Jarvis, Allen Rohner, and the entire Griffin team - big congrats on what you’ve built - the future is only bright!
https://lnkd.in/egzJkFUg
Portage and Taktile Unveil the Top 50 Fintech Companies Disrupting US Consumer Finance in 2024: In response, innovative startups and established fintech leaders are not only making existing products more fair and accessible but also accelerating ...
