2 years ago

Slope Raises $30 Million to Expand AI-Powered B2B Payment Solutions

  • Slope, a San Francisco-based startup specializing in short-term financing and payment processing, has secured $30 million in venture funding led by Union Square Ventures

  • The round also saw participation from OpenAI CEO Sam Altman, YCombinator, and Dropbox cofounders Drew Houston and Arash Ferdowsi

  • This brings Slope's total funding to $62 million, along with an additional $125 million in debt financing

  • The company's revenue has already reached eight figures in 2023

  • Slope's mission is to help wholesale companies offer buy now, pay later financing solutions and digitize B2B workflows

  • The new funding will be used to develop additional tools, invest in marketing, and expand its customer base

  • Slope faces competition from established players like SAP and Oracle, but differentiates itself by focusing on risk and fraud analysis, offering a more cohesive process for managing fraud data within its suite of tools

  • The company has also launched SlopeGPT, an AI-powered tool that analyzes transaction data, identifies trends, and assesses potential risks, aiding customers in forecasting cash flow.

      • ProblemTechnology

      "Wholesale companies face challenges with outdated B2B processes like manual payments and orders, leading to inefficiencies and a lack of modern financing solutions for merchants."

      Solution

      "Slope offers a suite of AI-powered tools that digitize B2B buying and selling processes, including automated payments, fraud assessment, credit monitoring, and collections management, streamlining operations and mitigating risks."

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