Slope, a pioneering B2B payments platform, has recently secured a substantial $65m in a combined equity and debt funding round led by J.P. Morgan.
Other notable participants included Y Combinator, and the Altman brothers’ new fund, Saga. This investment follows a successful period of significant traction and demand, bringing Slope’s total funding to an impressive $252m, comprising $77m in equity and $175m in debt.
Slope stands out in the financial technology landscape by offering comprehensive order-to-cash automation for large enterprises. Utilizing advanced AI tools, the platform facilitates crucial processes such as checkout, customer and vendor risk assessment, embedded short-term financing, and payment reconciliation. This integration not only enhances efficiency but also streamlines the financial operations of its clients.
The recent funds are earmarked for scaling operations as Slope continues to meet the needs of major global enterprises. As part of the investment, Slope will join the J.P. Morgan Payments Partner Network, which aims to deliver seamless payment experiences through a robust ecosystem of third-party applications, thereby accelerating business growth. Additionally, J.P. Morgan will extend a debt facility to support Slope’s expansion ambitions.
Lawrence Lin Murata, CEO and co-founder of Slope said, “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 digitize the $125 trillion B2B economy.”
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