Slope raises $65m in equity and debt funding from J.P. Morgan & others

By Gloria Mathias

Slope, a B2B payments platform for enterprise companies, has closed an additional financing round, bringing its total funding to $252 million ($77 million in equity and $175 million in debt). J.P. Morgan will provide both an equity investment and a debt facility as part of the funding.

The funding will be used to scale operations as the B2B payments platform continues to serve many of the world’s largest enterprises. Alongside J.P. Morgan Payments, other participants in the round include Y Combinator, Jack Altman, and Max Altman’s new fund, Saga.

Slope offers order-to-cash automation using leading AI tools that power checkout, customer and vendor risk assessment, embedded short-term financing, and payment reconciliation.

J.P. Morgan Payments has chosen Slope to help provide clients access to a short-term financing solution powered by Slope’s platform that extends payment terms to such clients’ business customers. Slope will join the J.P. Morgan Payments Partner Network, which delivers end-to-end payment experiences through an ecosystem of third-party applications that can grow businesses faster. J.P. Morgan will also provide a debt facility to help the business achieve additional scale.

“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,” said Lawrence Lin Murata, CEO and co-founder of Slope.

“The U.S. embedded finance market is determined to be worth $20 billion, with many corporates looking to implement solutions that reduce friction, streamline processes and support origination,” James Fraser, Global Head of Trade & Working Capital at J.P. Morgan Payments, shared. “Working with Slope, our team at J.P. Morgan Payments can help meet client demand by providing access to a financing solution that integrates directly into the point-of-sale, translating into higher conversion rates. By combining J.P. Morgan’s fortress balance sheet and depth of client relationships with Slope’s strengths in underwriting and credit risk monitoring as well as platform flexibility, we are a well-positioned partner to meet our clients’ needs in a rapidly evolving market.”