Slope takes in first capital with visions of being ‘Stripe for global B2B payments’

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Alice Deng and Lawrence Murata were working at artificial intelligence companies when they were inspired by their respective family businesses shield, which enables an easier way for businesses to offer Buy Now, Pay Later services.

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Before the global pandemic, suppliers were extending net terms of 30 days to make payments, but at that scale, it’s harder for small businesses to build credit, Murata told Nerdshala.

“Then with the global pandemic, the pace at which business-to-business payments were growing online was accelerating,” Murata told Nerdshala. “We wanted to bring it online at checkout and empower businesses by creating easy access to capital.”

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Businesses can get approved in seconds and start offering installments. At checkout, customers can choose the payment terms that work for them. Slope manages lending, underwriting and any debt collection, and will pay the business after the product or service ships.

Slope, how it works. image credit: shield

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Deng and Murata are two-time Y Combinator founders, most recently participating in the 2021 Summer Cohort. They actually went with a different company in batches and headed to Business Model Slope, which is launching today in August.

Already, the company is growing at an incredible pace – 15 times the gross trading volume in the past 30 days. It has acquired merchant clients in the US, Canada, Mexico, India and Singapore over the past three months. It will soon add merchants from China, Brazil and Europe to its waiting list.

Today, the company announced $8 million in seed funding from a group of backers that includes Global Founders Capital and the founders of Dropbox, DoorDash, Opendoor, Plaid, PlanGrid, Mercury and Pilot. The main focus for the new funding is to grow Slope’s team, build the infrastructure for customer-centric experiences, and connect merchants to waiting lists.

NS Global B2B Payments Market It was valued at $870 billion in 2020, with estimates expected to reach $1.9 trillion by 2028. Also, it was estimated that $127 trillion payment flows are responsible for B2B payments, and this is also expected to increase to $200 trillion by 2028.

“Our vision is to be Stripe for global B2B,” Deng said. “Winning in B2B requires building infrastructure and a core competency in global cross-border transactions that B2C companies like Affirm and Afterpay don’t have to contend with.”

In addition, the co-founders interviewed hundreds of small businesses about the need for BNPL and ended up signing deals even before Slope had a product, which Deng confirmed was a huge need in the market.

Don Stalter, partner at Global Founders Capital, said the growth of Slope was “impressive from the start, and one of the fastest growing companies we’ve seen globally, on its scale and the leanness of the team.”

Businesses have gone to banks for loans, but it was a “strange process” and anyone who could improve it with technology at five times the rate would be a huge disruptor, and if they could do it 100 times Then they will make a revolution. This, he added.

They believe that Deng and Lawrence can take that big B2B payments market and attack it with artificial intelligence and new technology that is going to improve the opportunities for businesses.

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