Slope secures $30M to scale B2B payments

In the realm of business-to-business (B2B) payments, Slope has raised an astonishing $30M. This injection of venture capital will lay the foundation for the company's future expansion.

• Background: Founded by Lawrence Lin Murata and Alice Deng in 2021, Slope aims to revolutionize the colossal $125T B2B payments market, opting for a digital approach.

• Uniqueness: Slope's selling point is its order-to-cash workflow automation that ticks all crucial boxes including checkout, customer risk assessment, vendor risk assessment, payment reconciliation, and cash management.

• Milestones: The recent unveiling of SlopeGPT, the industry's first payments risk model driven by GPT, is another notable milestone for Slope.

• Financing: Slope's fundraising journey began with an $8M seed round in 2021, followed by a hefty $24M Series A in 2022. The recent funding round was led by Union Square Ventures, with significant backing from Sam Altman of OpenAI.

• Other Investors: The company's investor portfolio is both impressive and diverse, featuring Y Combinator, Jack Altman from Lattice, Alex Bouaziz from Deel, Mathilde Collin from Front, Michael Tannenbaum from Brex, and Rujul Zaparde from Zip. As of now, Slope has amassed a total funding of $187M.

The transition from catering to startups to primarily serving enterprise clients has resulted in a 17-fold increase in both volume and revenue since last year. In essence, Slope's journey to innovate the B2B payments space is well underway.