Citi backs Crowdz, a Pipe competitor that just raised $10M

Recurring revenue as an asset class is a relatively new concept, and made more popular by startups such as Pipe, which has built a marketplace connecting investors to companies with businesses that have predictable, recurring revenues.

While Pipe has gone on to so far raise over $300 million and was valued at $2 billion last year, another player has quietly been building a company in the same space with a laser focus on small and medium enterprises (SMEs) operating in global supply chains. That player, Crowdz, recently secured $10 million in a financing co-led by Citi and Dutch growth equity firm Global Cleantech Capital, with participation from Bold Capital Partners, TFX Ventures and Augment Ventures.

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