April 28, 2022
Case study: How Bungalow used Pipe to expand into new markets
MEET BUNGALOW—a residential real-estate company and co-living platform reinventing how people live and move. The San Francisco-based company has been growing into major markets across the US to expand options for both tenants and landlords. They’re harnessing tech to modernize what had previously been one of the biggest low-tech gambles you could make—making real estate and roommate decisions.
The challenge: Staying focused on the business—not fundraising—while growing quickly
To deliver a truly great experience to their customer—and an app that matches you to the right housing and the right roommates—it’s crucial for CEO and co-founder Andrew Collins and team to prioritize their time and resources. Bungalow’s people-centered value propositions hinge on decisive leadership, but in a fast-growing company, fundraising could easily pull Andrew away from the business:
“Fundraising is a distraction ultimately from running the business and doing the things and building that I think all entrepreneurs love doing best,” said Collins. “One of the most stressful parts about running an organization—and the least fun—is fundraising.”
The solution: Self-serve access to non-dilutive capital through Pipe
Bungalow leveraged Pipe’s recurring revenue trading platform to connect to non-dilutive capital with the click of a button.
Andrew says he was “blown away” by Pipe after trying it out. That he could see how much capital Bungalow was eligible for, and then choose how much of that limit to withdraw with a drag and a click was “nothing short of incredible.” The hustle and time spent raising capital could be diverted back to the business with growth capital suddenly at his fingertips.
“At the end of the day,” Andrew says, “if you have future contractual cash flows, you can pull that regardless of who you are, or where you are.”
The results: More focus, more flexibility, more growth
In the post-COVID world, Andrew stresses that flexibility in how people live, work, and move is here to stay. With flexible access to funding through Pipe’s trading platform, Bungalow scaled into 10 new markets over the course of the 12 months, and they plan to expand into 10 more in the next 12.
“The best part about Pipe is the accessibility,” he says. “That democratizes the platform so that you can make those growth investments… when you’re running a business, when you’re starting a business, when you’re building? That speed and simplicity is everything.”
Learn more about how Pipe works for service businesses, and see how other customers are using Pipe to grow on their terms.
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