Pipe gathered integrated capital management and expense management solutions for small businesses by acquiring Glean.
This acquisition adds Glean. press release.
“With transparent access to capital and more intelligent information, we allow sustainable growth, better operational surveillance and long -term success for small businesses”, CEO of pipe Luke Voiles said in the press release.
According to the press release, the Glean spending management solution offers small businesses an access in one click to expenditure trends, billing errors and savings opportunities, according to the press release. It also offers real -time interfunctional budgeting tools and invoice payment and, with the help of AI, helps business owners to make data -based decisions.
This solution completes the solution of integrated capital’s capital remuneration card and remuneration cards that is delivered to small businesses through payments and vertical software partners of the company, according to the press release.
While the Glean.ai product is integrated into the internal pipe processes, it will continue to be available directly from Glean.ai, according to the press release.
Glean.a founder and CEO Howard KatzenbergWho will join pipes, said in the press release that the combination represents “an opportunity that changes the situation for small businesses”.
“They obtain support and resources to develop, while pipes and gleaning them create a more powerful unified platform that accelerates their success,” said Katzenberg.
The ideal point of the pipe lies with small businesses Who see sales from $ 100,000 to around $ 1 million on an annualized basis, Voiles told the CEO of Pymnts, Karen Webster, in an interview published in October.
In an earlier interview, published in June, Voiles said that by integrating financing solutions In the Software Systems and Plates-Forms of the point of sale (POS) on which business owners are based to carry out their daily operations, fintechs such as pipes can connect small businesses with innovative capital and loan products that would have been inaccessible otherwise.
“It’s a powerful thing to give someone who has never had access to capital, but who has an incredible small business … It can be a huge multiplier,” said Voiles.
Voiles added that Pipe develops a wider suite of financial services.
“What you can do is offer secondary features where capital becomes this security coverage for companies in the software they use every day,” said Voiles.
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