Slope has closed an additional financing round, taking total funding to $252m. The funding will be used to scale operations. Alongside J.P. Morgan Payments, other participants in the round include Y Combinator, Jack Altman and Max Altman’s new fund, Saga.
Slope offers order-to-cash automation using AI tools that power checkout, customer and vendor risk assessment, embedded short-term financing, and payment reconciliation.
Go deeper with GlobalData
J.P. Morgan Payments has chosen Slope to help provide clients access to a short-term financing solution that offers an extension of payment terms to such clients’ business customers, powered by Slope’s platform.
Slope will join the J.P. Morgan Payments Partner Network, which delivers end-to-end payment experiences through an ecosystem of third-party applications that can grow businesses faster.
J.P. Morgan will also provide a debt facility to help the business achieve additional scale.
Lawrence Lin Murata, CEO and co-founder of Slope, commented: “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. 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 digitise the $125trn B2B economy.”
James Fraser, Global Head of Trade & Working Capital at J.P. Morgan Payments, said: “The US embedded finance market is determined to be worth $20bn, with many corporates looking to implement solutions that reduce friction, streamline processes and support origination. 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.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
