Startup Slope Taps New CFO
Startup Slope, which offers companies an easy way to scale buy now, pay later (BNPL) services, is moving forward to expand its footprint with the recent appointment of Ashish Jain as chief financial officer (CFO). .
Jain most recently served as Senior Vice President of C2FO, overseeing capital markets, card products and corporate development. He was also Head of Capital Markets at SoFi and started his career at Deutsche Bank in 2003.
Slope was valued at $16 billion in 2021 and is expected to grow nearly sixfold by 2029. Using API technology, Slope can authorize companies to offer BNPL services in minutes. while managing loans, underwriting and debt collection.
Founders Alice Deng and Lawrence Murata saw the opportunity in Slope and saw his startup grow 121% month-over-month and signed enough enterprise clients to grow more than 20x in the quarter . Slope also has a waiting list that still adds new names every day.
“We’ve seen a massive shift in businesses moving online, especially during COVID, so there needs to be foundational infrastructure,” said Rebecca Kaden, managing partner at Union Square Ventures.
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“We thought it was missing in the B2B category. Additionally, Slope enjoys growth on two levels – as customers grow, it scales with them and attracts new customers along the way. Slope’s product is faster and easier to implement, which is a category advantage, and its growth rate reflects that,” Kaden added.
Slope now helps finance more than 2,500 businesses in the United States and Mexico, and B2B merchant partners include PlastiQ, Frubana, Meru.com, Blue Pallet, and Go4U. The company wants to differentiate itself from other financial providers and focuses on a developer-centric approach.
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