Startup backed by Altman, JPMorgan announces capital lending partnership with Amazon (www.cnbc.com)

Slope, an AI lending platform co-founded by Lawrence Lin Murata and backed by prominent figures like OpenAI’s Sam Altman and JPMorgan Chase, has announced a strategic partnership with Amazon to offer a reusable line of credit to independent sellers. Starting Tuesday, eligible Amazon vendors in the U.S. can apply for financing directly through their Seller accounts, leveraging Amazon's proprietary data for quick and efficient approvals. This initiative aims to simplify the lending process, making it faster and more user-friendly compared to traditional bank loans, with interest rates starting at 8.99%. This partnership is particularly significant as over 60% of Amazon's sales come from independent sellers, highlighting the essential role they play in e-commerce. Slope’s AI-driven underwriting model allows for a more nuanced assessment of sellers’ financial health using real-time performance data, which can lead to better-informed lending decisions. As more mature sellers require substantial financing, this collaboration addresses a pressing gap in the market by providing bank-grade financing options that are currently underrepresented for these larger vendors. With initial trials showing a remarkable 300% growth in applications week over week, Slope aims to be the "credit intelligence layer" that empowers small businesses on the Amazon platform.