Summary:
Slope, a payments processing startup, secured a $65 million investment from J.P. Morgan.
This deal gives Slope access to J.P. Morgan's vast network and client base, targeting corporate enterprises and mid-market businesses.
Slope aims to disrupt the fintech industry with 'buy now, pay later' options and AI-powered tools for b2b buying and selling.
The J.P. Morgan partnership will help Slope scale its offerings and reach Fortune 500 clients.
Slope is launching SlopeAI, an OpenAI-like platform for financial data, making its AI models available to other financial institutions.
Aven, a new fintech startup, has reached unicorn status with a $1.5 billion valuation, offering faster home equity line of credit approvals.
Slope's Big Score: J.P. Morgan Invests $65 Million in Fintech Startup
Slope, a payments processing startup founded by Alice Deng and Lawrence Lin Murata, just secured a $65 million investment from J.P. Morgan Payments. This deal isn't just about the cash, though. Slope is using the investment to tap into J.P. Morgan's massive network and client base, which includes corporate enterprises and mid-market businesses – Slope's target market.
Slope's mission is to disrupt the fintech industry by providing "buy now, pay later" options for wholesalers and digitizing the b2b buying and selling process. They've developed AI-powered tools for payment processing, fraud assessment, and credit monitoring.
The partnership with J.P. Morgan will help Slope scale its offerings and reach J.P. Morgan's Fortune 500 enterprise clients. Slope is also launching SlopeAI, an OpenAI-like platform for financial data, making its AI models available to other financial institutions and wholesalers.
The investment will also fuel Slope's hiring and AI development, enabling them to leverage open-source AI models to process customer data. While J.P. Morgan will be a key avenue for growth, Slope continues to attract clients independently.
Aven: The New Fintech Unicorn
A new fintech startup, Aven, has emerged as a unicorn with a $1.5 billion valuation. Aven provides consumers with a faster way to get approved for home equity lines of credit (HELOC), using their home as collateral. The company has already issued $1.5 billion in credit lines and generates over $100 million in annual revenue. While some debate the viability of this model, Aven is making waves in the fintech space.
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- Robinhood, cofounded by Vlad Tenev, acquired Pluto, an investment research startup that leverages AI to provide real-time data to investors.
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