JP Morgan is making an equity investment in and providing a debt facility to Slope, an AI-driven business-to-business payments platform.
In a $65 million equity and debt round, JP Morgan Payments is joined by Y Combinator, along with Jack and Max Altman’s new fund, Saga.
Founded in 2021, Slope specializes in order-to-cash automation for enterprise companies, utilizing AI tools to enhance checkout processes, conduct customer and vendor risk assessments, offer embedded short-term financing, and streamline payment reconciliation.
JP Morgan Payments has selected Slope to assist in offering clients access to short-term financing that extends payment terms for their business customers. Slope will become a member of the JP Morgan Payments Partner Network, which facilitates comprehensive payment experiences through a variety of third-party applications.
James Fraser, the global head of trade and working capital at JP Morgan Payments, remarked, "By collaborating with Slope, we can meet client demand for a financing solution that directly integrates into the point-of-sale, resulting in higher conversion rates. By combining JP Morgan’s robust balance sheet and extensive client relationships with Slope’s capabilities in underwriting, credit risk monitoring, and platform flexibility, we position ourselves as a strong partner to address client needs in this dynamic market."
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