The most common and most likely answer to this crossword clue is the 7 letter word COWHIDE
I've seen this crossword clue in Financial Times
C
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More clues leading to the result COWHIDE
Buddy explains!

The straight part
We know that "Whip" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case whip = cowhide.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does COWHIDE mean?
COWHIDE noun- A hide of a cow.
- Any quantity of hides of cows.
- Leather made from the hide of cows.
- A coarse whip made of untanned leather.
- To flog with a cowhide.