B2B paytech Slope lands $65m equity and debt funding led by JP Morgan
Californian B2B payments platform Slope has secured a new $65 million investment led by JP Morgan Payments.
Slope bags $65 million investment
Other participants in the round, which comprises both equity and a debt facility, include Y Combinator, Alt Capital managing partner Jack Altman, and Max Altman’s new fund, Saga Ventures.
Adding to a $30 million equity investment led by Union Square Ventures last year, this latest round brings Slope’s total financing to $252 million, divided into $77 million in equity and $175 million in debt.
The paytech states that the cash with be used to “scale operations”, aided by its newfound membership of the JP Morgan Payments Partner Network and a debt facility to “help the business achieve additional scale”.
This scaling is to include the introduction of an AI-driven underwriting solution, SlopeAI, built to serve FIs and wholesalers, the company says.
Founded in 2021 and headquartered in San Francisco, Slope’s platform leverages generative AI to power cash management, payment reconciliation, B2B checkout, and customer and vendor risk assessment for businesses.
Discussing the recent news, Lawrence Lin Murata, CEO and co-founder of Slope, says: “We announced our round late last year and were not looking to raise additional capital. However, working closely with JP Morgan, one of the world’s largest banks, represented a unique opportunity.
“We are excited to join the JP Morgan Payments Partner Network, with the equity investment and debt facility helping to support future growth.”
