A fintech company and bank payment company GoCardless have announced a partnership which they say will “reshape capital access for UK businesses”.
Under the partnership, Pipe’s capital offering will be accessible via the GoCardless platform.
Pipe says it has successfully conducted a pilot programme with GoCardless in the UK, and the two companies have agreed to formalise their partnership to bring Pipe’s capital solutions to the broader UK market.
“Our partnership with GoCardless in the UK market marks a significant step forward in our mission to empower small businesses worldwide with the financing and services they need to grow and prosper,” said Luke Voiles, CEO of Pipe. “By combining Pipe’s customer-friendly solution with GoCardless’s extensive reach in the UK market, we’re revolutionising how small businesses access capital and providing them with the financial tools they need to thrive in today’s dynamic economy.”
This collaboration follows the launch of Pipe’s embedded capital offering in the United States in May. GoCardless partnered with Pipe after a comprehensive market evaluation, citing Pipe’s “impressive pre-approval rate for merchants” and its ability to offer capital without personal guarantees.
The full product is expected to launch in 2025.
“We’re excited to work with Pipe to roll out their capital offering to our UK customer base,” said Jolawn Victor, Chief Growth Officer, GoCardless. “Their expertise and support helped us implement a pilot programme quickly. Early results have exceeded expectations with almost £7 million in capital being advanced to GoCardless customers. Customer feedback has been overwhelmingly positive, with the programme achieving an impressive 88 Net Promoter Score. The strong conversion rates from the pilot show there is pent-up demand for this type of financing. We look forward to fully launching this embedded product next year, helping customers tap into new opportunities for growth and expansion while continuing to build their trust and loyalty in GoCardless.”