Startup backed by Altman, JPMorgan announces capital lending partnership with Amazon

Core Insights - Slope, an AI-driven lending startup, is partnering with Amazon to offer a reusable line of credit to Amazon sellers, backed by JPMorgan Chase [1][3] - The partnership aims to provide eligible U.S. Amazon vendors with real-time access to capital through their Amazon Seller accounts [1][6] Company Overview - Slope was co-founded by CEO Lawrence Lin Murata, who has personal experience with the challenges of small business cash flow [2] - The company is backed by notable figures including OpenAI CEO Sam Altman and JPMorgan Chase [3] Product Offering - The lines of credit will start at an 8.99% APR, requiring vendors to have been in business for at least one year and generate over $100,000 in annual revenue [3] - Approved sellers can draw from the line as needed, with repayment terms ranging from three months to a year [3] Market Context - More than 60% of Amazon's sales are driven by independent sellers, highlighting their importance in the e-commerce ecosystem [4] - The total addressable market for Amazon lending was estimated between $1 billion and $2 billion, with expectations for growth under Slope's management [5] Competitive Advantage - Slope's integration allows sellers to apply for capital directly on Amazon Seller Central, utilizing proprietary performance data for real-time approvals [6][7] - The AI model used by Slope can analyze granular sales data, providing a more informed financing decision compared to traditional banks [7] Demand and Growth - Slope has seen significant demand for its services, with applications growing 300% week over week during the trial phase of the Amazon integration [8] - The company aims to be a "credit intelligence layer" for businesses, facilitating growth through accessible financing options [9]