Pipe Acquires Glean.ai for Enhanced Financial Solutions
Deal News | Apr 15, 2025 | Globenewswire
Pipe, a fintech company that specializes in embedded financial solutions, announced its acquisition of Glean.ai, an AI-powered spend management service on April 15, 2025. This acquisition aims to tackle a major problem faced by small businesses: lack of capital access and effective financial management solutions. Glean.ai, founded by Howard Katzenberg, provides visibility into financial spending through advanced AI analytics, offering insights into spending trends and identifying budgeting opportunities. This transaction with Glean.ai allows Pipe to integrate robust spend management capabilities into their existing financial services, enabling them to offer a comprehensive suite of financial tools through their software partners. With support from Greenhill & Co., Glean.ai will continue to function and attract new customers while also merging its expertise with that of Pipe’s. The strategic acquisition aims to equip small businesses with more effective financial oversight and sustainable growth opportunities.
Sectors
- Financial Technology
- Small and Medium Enterprises (SMEs)
Geography
- United States – Both Pipe and Glean.ai operate primarily in the United States, and the article references data from the U.S. Small Business Administration.
Industry
- Financial Technology – The article discusses Pipe's acquisition of Glean.ai, both of which are fintech companies focusing on providing financial solutions through technology-enabled platforms.
- Small and Medium Enterprises (SMEs) – The acquisition specifically addresses the challenges faced by small businesses in financial management, targeting solutions suited for SMEs.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Pipe | Acquiring Company | Company | Pipe is a fintech firm offering embedded capital and financial tools aimed at small businesses. |
| Glean.ai | Target Company | Company | Glean.ai provides AI-powered spend management solutions for enterprises, focusing on increasing visibility and accuracy in financial operations. |
| Howard Katzenberg | Founder of Glean.ai | Person | Howard Katzenberg is the founder of Glean.ai and former CFO of OnDeck, with extensive experience in fintech. |
| Luke Voiles | CEO of Pipe | Person | Luke Voiles is the CEO of Pipe, helping to lead the strategic acquisition to improve financial offerings for businesses. |
| Greenhill & Co. | Financial Advisor | Company | Greenhill & Co. acted as the exclusive financial advisor for Glean.ai in the acquisition deal. |