More financing flows into Pipeline, as buzzy fintech raises $250M at a $2B valuation

At the end of March, TechCrunch reported that buzzy startup Pipeline — — which aims to be the”Nasdaq for income — “— hadraised $150 million in a round of financing that values the fintech at $2 billion.

Well, that deal has closed and in the end, Miami-based Pipeline validates that it has actually raised $250 million at a $2 billion evaluation in a round that was “enormously oversubscribed,” according to co-founder and co-CEO Harry Hurst.

“We had actually initially allocated $150 million for the round, but capped it at $250 million although we might have raised considerably more,” he informed TechCrunch.

As we previously reported, Baltimore, Maryland-based Greenspring Associates led the round, which included participation from new investors Morgan Stanley’s Counterpoint Global, CreditEase FinTech Mutual Fund, Fin VC, 3L and Japan’s SBI Investment. Existing backers such as Next47, Marc Benioff, Alexis Ohanian’s 7 Seven 6, MaC Ventures and Republic also put money in the most recent financing. The investment happens 2 1/2 months after Pipe raised$50 million in”strategic equity funding”from a variety of high-profile financiers such as Siemens’Next47 and Jim Pallotta’s Raptor Group, Shopify, Slack, HubSpot, Okta and Social Capital’s Chamath Palihapitiya. With this most current round, Pipe hasnow raised about$316 million in overall capital. The new financing was raised at”a substantial action up in appraisal”from the business’s last raise. Pipe, which aims to be the ‘ Nasdaq for revenue, ‘raises more money at a $2B appraisalArticle curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.