A new piperazine based bifunctional coupler was synthesized by reaction of piperazine and epichlorohydrin in water. Functional polymers were prepared using this coupler via two different approaches: (1) by polycondensation – reacting the bifunctional coupler with a suitable diamine and (2) by post-polymerization modification – reacting the coupler or functionalized couplers with a polyamine precursor. All reactions were performed using water as a solvent in a one pot synthesis approach.