Investing in Fintech Innovation: Why Notable Capital Invested in Slope
July 17, 2024
At Notable Capital, we invest in visionary teams solving significant problems. Fintech, particularly AI-driven ledgering and accounting systems, highlight untapped potential in the financial technology landscape. For example, the B2B payments economy represents a $125 trillion opportunity for the right innovation to unlock. This potential drives our excitement in co-leading Slope's $65 million financing round with J.P. Morgan. We believe co-founders Alice Deng, Lawrence Lin Murata and Slope team are positioned to revolutionize the fintech landscape.
We often ask founders of their technology, “What are you replacing?” For Slope, while the technology is quite complex, the answer is easy. Imagine the headache of a large retailer, distributor or bank with thousands business customers and the millions of touchpoints required to accurately account for commercial payments and check-out, short-term financing options, customer and vendor risk assessment, collections, payment reconciliation, cash management, and more.
Slope’s goal has always been to digitize the B2B economy. Their journey began by tackling cashflow constraints that hindered business growth. They soon realized that cashflow was only a small part of a much larger opportunity: the offline, manual, and labor-intensive order-to-cash process. Utilizing a tech-first approach and advancements in generative AI, Slope’s comprehensive platform is modernizing these processes with a more data driven and scalable B2B ecosystem to improve the overall experience for both companies and their business customers.
Slope addresses critical gaps in B2B payments – a space that has long been underserved by current technology solutions. The team has a big vision for creating a platform that aligns with the financial and tech stack requirements of the modern CFO. By addressing the immediate headache of payments, rapid short-term financing and more, the platform becomes a more extensive, CFO-centric solution.
At the core of Slope's platform are atomic units of ledgering and transaction labeling, essential for accurate financial reconciliation and constructing profit and loss statements. Their innovative use of AI, particularly large language models (LLMs), enhances transaction labeling—a notoriously difficult task, and excels in auditing and providing enriched transaction data for machine learning models.
We see a significant opportunity to help to build a smart operating system for the CFO office of modern enterprises over time. The integration of AI into fintech is still in its early days, reminiscent of the internet boom of the late 1990s. We are bullish on the potential for AI to revolutionize this trillion-dollar market. Slope's use of AI for transaction labeling and reconciliation is a prime example of how innovative applications of technology can address longstanding issues and unlock new opportunities for value creation.
We are excited to be part of Slope's journey and look forward to seeing the transformative impact they will have on the industry.
