New Year, New Lenders?

There’s a couple new lenders on the block to keep an eye on.

One of them is named Slope. Backed by both JPMorgan and OpenAI CEO Sam Altman, Slope offers revolving lines of credit up to $5 million. And they’re already out there. Seemingly overnight they’ve become capital providers for a number of large e-commerce platforms including Amazon and Walmart and are now listed alongside Parafin on both. When they announced their deal last year with JPM, they said that the US embedded financing market was worth $20 billion and that the B2B economy was $125 trillion. Slope is also offering a new AI underwriting tool.

Another is named Uncapped. Walmart says that Uncapped offers term loans while Amazon says that Uncapped offers lines of credit. The Uncapped website says that they offer loans from $10,000 to $2 million and that they accept business from business loan brokers. The company was technically founded in 2019, but in the UK.