Total amount raised
$252.1 Million
Latest funding date
7/1/2024
Location
Slope has successfully raised funding over seven rounds, with notable investors such as Y Combinator, Notable Capital, and JP Morgan backing the company. The platform offers a credit infrastructure for business lending, providing solutions like "Embedded Capital" and "SlopeScore" to address the challenges of SMB lending.
Keep reading to explore the intricacies of Slope's fundraising journey and the investors supporting this innovative financial technology platform.
What Is Slope?
Slope is a B2B financial platform based in San Francisco, California, specializing in providing credit infrastructure for business lending. The company operates in industries such as E-Commerce, Finance, Financial Services, and FinTech.
Founded with the mission to offer various payment alternatives while ensuring immediate payment, Slope has grown to employ between 11 and 50 people. The platform leverages advanced AI models to analyze SMB transactions, generate predictive cash flow scores, and provide real-time financial insights.
How Much Funding Has Slope Raised?
- Pre-Seed
- Amount Raised: USD 125,000
- Date: July 2021
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their B2B financial platform.
- Seed
- Amount Raised: USD 8,000,000
- Date: November 2021
- Lead Investors: Global Founders Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: USD 24,000,000
- Date: April 2022
- Lead Investors: MONASHEES, Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Debt Financing
- Amount Raised: USD 125,000,000
- Date: September 2022
- Lead Investors: Silicon Valley Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for business lending and support growth.
- Series A
- Amount Raised: USD 30,000,000
- Date: September 2023
- Lead Investors: Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the business and expand into new markets.
- Debt Financing
- Amount Raised: USD 50,000,000
- Date: July 2024
- Lead Investors: JP Morgan
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support large-scale enterprise operations and enhance financial products.
- Series Unknown
- Amount Raised: USD 15,000,000
- Date: July 2024
- Lead Investors: JP Morgan
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and invest in new technologies.
Total Amount Raised: USD 252,125,000. Current Valuation: Not publicly disclosed.
Key Investors
- JP Morgan
- Details: JP Morgan is a global financial services firm offering investment banking, financial services for consumers and businesses, financial transaction processing, asset management, and private equity. It processes nearly $10 trillion in payments daily and operates in over 160 countries.
- Investment Focus Areas: Treasury services, trade & working capital, card and merchant services.
- Notable Investments: Not specified in the sources.
- Union Square Ventures
- Details: Union Square Ventures is a venture capital firm based in New York City. It invests in internet services that create large networks.
- Investment Focus Areas: Internet services, social media, financial technology.
- Notable Investments: Twitter, Etsy, Coinbase.
- Silicon Valley Bank
- Details: Silicon Valley Bank provides various financial services to startups, growth companies, venture capital firms, and private equity. It is known for its focus on the innovation sector.
- Investment Focus Areas: Technology, life sciences, venture capital.
- Notable Investments: Not specified in the sources.
- MONASHEES
- Details: MONASHEES is a venture capital firm based in Brazil. It focuses on early-stage investments in technology companies.
- Investment Focus Areas: Technology, e-commerce, education.
- Notable Investments: 99, Rappi, Loggi.
- Y Combinator
- Details: Y Combinator is a startup accelerator that has funded over 2,000 startups, including well-known companies like Airbnb, Dropbox, and Stripe. It provides seed funding, advice, and connections to early-stage startups.
- Investment Focus Areas: Early-stage startups, technology, healthcare.
- Notable Investments: Airbnb, Dropbox, Stripe.
What's Next for Slope?
With the recent $65 million funding round, Slope is poised to scale its operations and tap into the $125 trillion B2B economy. The partnership with J.P. Morgan Payments opens doors to deliver end-to-end payment experiences and leverage AI-powered solutions for risk assessment and payment reconciliation.
Future fundraising opportunities look promising, given the robust investment environment in the AI sector. The launch of SlopeAI, offering AI underwriting platforms to financial institutions, could attract further investments and strategic partnerships.
However, Slope may face challenges in integrating with large financial institutions and maintaining service quality while scaling. Navigating regulatory requirements and staying competitive in the rapidly evolving fintech market will also be crucial for sustained growth.
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