Uber just started lending money (working capital) to restaurants in partnership with Pipe. Embedded finance topic will be analyzed at Banking 4.0.

Tech integration makes working capital from Pipe available to US Uber Eats’ restaurant partners within the Uber Eats Manager app.

Pipe, a fintech company offering embedded capital products to small businesses, and Uber Technologies, Inc. today announced a strategic relationship that will provide hundreds of thousands of restaurants in the US access to working capital.

Through this relationship, eligible restaurants across the US will have access to Pipe Capital through Uber Eats Manager, the Uber platform that merchants use to monitor, manage, and grow their businesses. „For eligible merchants, Uber Eats will show capital offers from Pipe in Uber Eats Manager that are customized based on restaurant revenue, cash flow, and business performance. By assessing risk through its cutting-edge underwriting engine, Pipe is able to offer personalized, pre-approved capital offers with transparent and up-front pricing.” – the company said.

“Uber Eats is an integral part of how its restaurant partners operate, making access to working capital a natural next step. Working with Uber, Pipe is able to move fast to understand the needs of these restaurants and deliver capital where traditional banks have failed,” said Luke Voiles, CEO of Pipe. “Together, we’re unlocking growth for restaurants by finally putting long-overdue capital within reach.”

Uber selected Pipe for its merchant-friendly solution that provides capital offers that are designed specifically for small businesses, with a multi-draw advance, transparent terms, and flexible payments that adjust to meet the performance of their business. Pipe has a dedicated merchant support team, ensuring the entire process is both straightforward and easy to navigate.

„Uber Eats’ merchant capital was key to assist with our planned expansion,” said Kelly Jones, owner of 404 Coffee in Atlanta. “We loved the sales-based funding with no credit checks and personal guarantees, the flexibility to draw more capital up to our approved limit, and no early-payment penalties.”

For small businesses like these restaurant owners, access to capital has long been a significant pain point. „Pipe Capital can provide SMBs access to custom capital options in just a few clicks, inside the same applications they’re using to manage their business. Instead of requiring credit checks, personal guarantees or extensive documentation, capital offers are based solely on historical business performance and cash flow.” – the company explained.

“We are happy to team up with Pipe to bring working capital to Uber Eats merchants across the US,” said Karl Hebert, Vice President of Global Commerce and Financial Services at Uber. “Restaurants are our partners at Uber, and the backbone of our communities, yet many struggle with access to capital. By helping restaurants on the platform to access fast and flexible capital through Pipe, we’re empowering restaurant owners to grow their own way without the burdens of traditional financing. This collaboration is a step forward in our mission to support local businesses and help them succeed.”

After early pilots, this project will start rolling out widely to restaurants on the Uber Eats platform this week.