Slope, a company focused on revolutionising the B2B payment landscape, has successfully announced its latest funding round.
The recent funding round saw Slope raise $30m, with the lead investment from Union Square Ventures and significant backing from OpenAI’s Sam Altman.
Slope’s origin was deeply personal, stemming from the founders’ first-hand experiences with traditional B2B payment inefficiencies in Brazil. While B2C transactions have embraced digitisation, B2B transactions, worth approximately $125tn globally, remain predominantly offline. Seeing an opportunity to simplify and digitise the cumbersome B2B payment processes, Slope was established to create a frictionless B2B payment experience.
With the new funding, Slope aims to further its mission to digitise the vast $125tn B2B economy, focusing on building an enduring, category-defining business.
Over the years, Slope has expanded its product suite, addressing the broader challenges faced by businesses transitioning online. They’ve delved into automating order-to-cash workflows, such as customer onboarding, invoicing, credit risk management, and collections management. Slope boasts a team culture rooted in creativity, camaraderie, and innovation, with each member playing an integral role in the company’s growth.
“We’re only just getting started and can’t wait to see where this journey continues to take us,” the Slope team shared in a blog post. Reflecting on the new funding, they added, “These funds will enable us to continue playing on the offense, conquering opportunities when incumbents and competitors are on the defence.”
Keep up with all the latest FinTech news here
Copyright © 2023 FinTech Global