• Established in 2021, Slope specializes in a B2B payments platform, streamlining transactions for seamless enterprise interactions.
  • Slope’s platform ensures secure payment processing through AI-driven fraud detection and streamlined transaction workflows.

Slope Inc., an upstart business-to-business payments platform powered by artificial intelligence, has raised USD 30 million in new funding to sustain product development and expansion.

Slope, founded in 2021, provides a B2B payments infrastructure intended to facilitate transactions between businesses. The service seeks to simplify the frequently complex B2B payment process, allowing businesses to focus on their primary operations.

The Slope platform offers secure payment processing with the assistance of artificial intelligence, which is used to detect fraudulent activities and optimize transaction workflows. It employs generative artificial intelligence to enable B2B checkout, customer and vendor risk assessment, payment reconciliation, and cash management to drive digital transformation.

The company asserts that their utilization of AI not only addresses risk, a fundamental concern in the payments industry but also aids throughout the complete order-to-cash lifecycle. It primarily operates in an offline and manual capacity, often necessitating entire finance teams for management.

At the heart of the platform lies Slope’s order-to-cash workflow, an automated solution tailored for enterprise-level companies. It commences with a customer’s order and culminates in the successful collection of payments. Companies utilize the platform to streamline processes from customer onboarding to invoicing, guaranteeing precise transactions and elevating overall customer satisfaction.

The company’s AI service, SlopeGPT, was introduced in April. It excels at categorizing bank data, offering a sharper business image and enhanced risk detection compared to its counterparts.

Union Square Ventures spearheaded the funding round, joined by notable participants like Sam Altman from OpenAI LP, Y Combinator Management LLC, and several individual investors. In a statement, Altman, who is the CEO of OpenAI said, “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.”

With this funding, Slope has raised a total of USD 187 million, including funding from venture capitalists and debt financing. The new funds will be used to build more tools to help companies at every transaction stage and to put money into marketing.