Slope has raised $65 Million Strategic Equity and Debt Funding, taking total funding to $252M ($77M in equity and $175M in debt). The funding will be used to scale operations as the B2B payments platform continues serving many of the world’s largest enterprises.
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Alongside J.P. Morgan Payments, other participants in the round include Y Combinator, Jack Altman, and Max Altman’s new fund, Saga. Slope is working to bring simplicity and flexibility to B2B payments, so that all businesses can seamlessly handle payments online and be empowered with the resources to grow.
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“We announced our round late last year and were not looking to raise additional capital. However, working closely with J.P. Morgan, one of the world’s largest banks, represented a unique opportunity. We are excited to join the J.P. Morgan Payments Partner Network, with the equity investment and debt facility helping to support future growth,” said Lawrence Lin Murata, CEO and co-founder of Slope. “Working with J.P. Morgan will help us advance our technology so we can better serve more members of the Fortune 500. Slope embodies ‘Fin-Tech’ to the very core and is well positioned to win the opportunity to digitize the $125 trillion B2B economy.”
Lawrence, one of the co-founders behind Slope. Working in his parent’s wholesale business in Brazil, he saw first-hand how manual the processes were to manage business between businesses. Transactions were conducted via cash, checks, secured with a handshake, and tracked offline in an increasingly digital world.
“The U.S. embedded finance market is determined to be worth $20 billion, with many corporates looking to implement solutions that reduce friction, streamline processes and support origination,” James Fraser, Global Head of Trade & Working Capital at J.P. Morgan Payments, said. “Working with Slope, our team at J.P. Morgan Payments can help meet client demand by providing access to a financing solution that integrates directly into the point-of-sale, translating into higher conversion rates. By combining J.P. Morgan’s fortress balance sheet and depth of client relationships with Slope’s strengths in underwriting and credit risk monitoring as well as platform flexibility, we are a well-positioned partner to meet our clients’ needs in a rapidly evolving market.”
About Slope
Founded in 2021, From the beginning, Slope’s goal has been to digitize the B2B economy. It’s journey began by tackling cashflow constraints that hindered business growth. But we didn’t stop there. Slope learned that cashflow was just a small piece of a bigger problem – an offline, manual, and labor-intensive order-to-cash process. Armed with our tech-first approach and breakthroughs in generative AI, we are modernizing an age-old industry. Welcome to the future of B2B commerce.
