Uber Eats partners with Pipe to offer working capital to US restaurants

SAN FRANCISCO - Uber Technologies, Inc. (NYSE:UBER), a prominent player in the ground transportation industry with a market capitalization of $199 billion and strong financial health according to InvestingPro analysis, and fintech company Pipe announced a strategic relationship Wednesday that will provide eligible restaurants across the United States access to working capital through the Uber Eats Manager platform.

The integration allows Uber Eats to display customized capital offers from Pipe directly within the management platform that restaurant merchants already use to operate their businesses. The offers will be tailored based on restaurant revenue, cash flow, and business performance. This expansion comes as Uber demonstrates strong business momentum, with revenue growing 18.15% over the last twelve months.

According to the companies, Pipe’s underwriting engine assesses risk to provide pre-approved capital offers with transparent pricing. The solution features multi-draw advances, flexible payments that adjust to business performance, and does not require credit checks or personal guarantees.

"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."

Kelly Jones, owner of 404 Coffee in Atlanta, who participated in early testing, said: "Uber Eats’ merchant capital was key to assist with our planned expansion. We loved the sales-based funding with no credit checks and personal guarantees."

Luke Voiles, CEO of Pipe, stated that the company aims to "unlock growth for restaurants by finally putting long-overdue capital within reach."

The companies said the service will begin rolling out widely to restaurants on the Uber Eats platform this week, following successful pilot testing.

The announcement comes as small businesses continue to face challenges accessing traditional financing options.

The information in this article is based on a press release statement from the companies.

In other recent news, Uber Technologies, Inc. has announced several strategic developments. The company plans to integrate Blade’s air mobility services into the Uber app, following its recent acquisition of Blade’s passenger business. This move will allow Uber users to book Blade flights directly through the app, expanding access to routes in the New York metropolitan area and Southern Europe. Additionally, Uber has partnered with Sephora to offer on-demand delivery of beauty products through the Uber Eats platform, marking its entry into the prestige beauty retail category.

Uber is also advancing its autonomous vehicle initiatives. In collaboration with Chinese company Momenta, Uber will begin testing autonomous vehicles in Munich next year, with plans to expand to other European cities. Meanwhile, in Dallas, Uber and Avride are intensifying testing of their autonomous Hyundai IONIQ 5 vehicles, preparing to launch the first public robotaxi service later this year. These developments reflect Uber’s ongoing efforts to expand its services and technological capabilities in various markets.

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