Here’s the 21-page pitch deck that Slope, a fintech looking to upend B2B payments, used to score $30 million from investors like OpenAI’s Sam Altman
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- Slope is a startup tackling the $125 trillion world of business-to-business payments.
- It offers businesses short-term financing options and software for check-out and cash management.
- Slope used this deck to raise $30 million from Sam Altman, Union Square Ventures, and Y Combinator.
Lawrence Lin Murata knows how analog running a wholesale business is.
His parents have run a business selling toys from factories in China to companies in Brazil for 30 years. Lin Murata worked at the business growing up, doing everything from sales to filing paperwork to working the cash register.
“My parents, they’re very old school, and all the existing solutions were excruciating to use, and we realized there was a real need for a frictionless B2B payments solution,” said Lin Murata.
Now, Lin Murata and his cofounder Alice Deng are seeking to digitize the largely offline, $125 trillion world of business-to-business payments with their startup Slope.
It’s a tall order to digitize B2B payments — companies ranging from middle-market companies and mom-and-pop shops have been notoriously hard to penetrate and spur technological change.
But being bold is part of Slope’s strategy, with Deng adding a big part of Slope’s next phase is “to be aggressive” compared to other startups and incumbents that are “just trying to stay in a survival mode.” And investors seem to be into it.
“Slope’s quest to reshape the B2B payments experience and bring the sector into the digital age is audacious — and that’s why I chose to back them,” OpenAI CEO Sam Altman said in a press release.
The fintech recently raised $30 million in an equity round backed by Union Square Ventures, OpenAI’s Sam Altman, and Y Combinator. CEOs of Deel and Zip and Brex’s COO also participated in the so-called “venture round,” as the cofounders put it, which comes on the heels of Slope’s Series A in April 2022.
The 2-year-old startup provides software for businesses selling wholesale goods to other companies, from processing customer orders to collecting payment and managing cash flow. Slope also uses AI to underwrite buyers and extend short-term financing via Slope’s debt capital while allowing sellers to get paid right away.
Of the $125 trillion market for global B2B payments, only a fraction of transactions — less than $6 trillion according to Slope’s pitch deck — occur online. For the most part, the process from when a customer order is placed to when the business is paid happens manually, according to Lin Murata.
The latest investment brings Slope’s total funding to $187 million, with $62 million in equity and $125 million in debt capital. The startup’s cofounders declined to disclose a valuation. The money will be used to build new products for bigger enterprise customers and grow Slope’s 19-person team, focusing on customer success and sales, Deng told Insider.