Seed · 2026

The intelligence layer
for embedded lending.

The right capital, at the right moment, inside every platform.

$195k

Deployed · live

100%

Repaid

100%

Inbound demand

Confidential Raising $5M

01 / 14

The Team

02 / 14

Meet the founders

Built by the people who know exactly what's broken — and why.

Scott Elliot

Co-Founder & CEO

10+ Years Across Banks + Fintechs

SUPERPOWER

Turns regulation into competitive moat. A decade of building risk engines across banks and fintechs → knows every step from bank → fintech → hyperscale.

$50M debt facility. Scaled lending ops to $15M in revenue. Negotiated bank partnerships + regulatory engagement

Led Canada expansion. Structured compliance frameworks. Supported U.S. MTL licensing. Closed major B2B platform deals.

Goldman
Sachs

Grounded in bank-grade risk + bsa/aml

Scaled compliance + onboarding for thousands of startups. Built the systems that let fintechs move fast without breaking.

Devin Picciolini

Co-Founder & CTO

10+ Years Launching and Building Digital Products

SUPERPOWER

Turns rejection walls into revenue engines. A 0→1 product leader who knows how to find the pain, hack the workaround, and build the scalable solution.

Led Product for Risk, Compliance & Cards. Issued $50M+ credit, scaled to $15–20M monthly spend, grew customers 100 → 5,000+. Lived the pain that became Slate.

Built & exited a healthtech platform with 25K users and $6.5M+ payments processed.

Product ops at Instagram, scaling ML + infra tools adopted across global teams.

The Problem

03 / 14

Embedded lending, today

Embedded lending is broken.

100 customers. Same offer.

1 convert

99 don't

Spray everyone.
Hope someone bites.
That's not lending. That's spam.

The Insight

04 / 14

A different game

Distribution is solved.
Intelligence is the next moat.

Today — Volume

0–1%conversion

Volume game. Spray works at scale, but most customers get nothing they want.

Slate — Intelligence

Right oneright moment

Intelligence game. Match the customer's moment, not the platform's eligibility list.

The Solution

05 / 14

Offer Intelligence

How Slate decides who gets what offer when.

Three capabilities. One engine. Every transaction, payroll cycle, and platform signal informs the decision.

01

Continuous risk

Risk recalculated daily across every customer. Not a one-time score — a living picture.

02

Moment detection

Predicts capital need before the customer asks. The moment is the moat.

03

Capital sizing

Same engine, two outputs: a discrete loan offer, or a continuously-resized credit line on an existing card. Use case drives the shape, not credit score.

How It Works

06 / 14

The architecture

Plug us in. We handle everything else.

Platforms want to grow their merchants with capital — without becoming a lender, or spamming the customers they spent years earning.

The Platform

Integrate

One API or one widget. We support both.

3–5 days · one-time

Slate

The continuous engine

01Ingest

→

02Underwrite

→

03Match

→

04Surface

→

05Service

∞ continuous · per customer · automated

Platform integrates once. Slate runs forever.

Product

07 / 14

What we deliver

Three surfaces. One decision engine.

For borrowers

Widgets

White-labeled, embedded, conversion-tuned.

For partners

APIs

Programmatic access. Build your own surface or use ours.

GET /v1/offers/cus_a8f

"amount": "$15,000",

"product": "payroll_loc",

"score": 0.92

The moat

Decision Engine

Contextual offers — right one, right moment.

Decision · Jane's Bakery live

Detected

Capital need · 3 days out

Matched

$15,000 · Payroll LOC 92%

→Cash buffer below 14d threshold

→Payroll cycle: Friday

→Utilization < 30%

Traction

08 / 14

The machine works

$195k deployed. Zero defaults. $2.94M in contracted revenue.

$195k

Deployed

100%

Repaid

60%

Accepted

3 Signed Partners

Humaans

● Launching May 4

HR / Payroll

Today$50k

12 mo$100k

Fairly

● Live

Underwriting

Today$75k

12 mo$187k

Fillip

● MSA Signed · Pilot May

Corporate Card

Prepaid → charge card, with dynamic credit extension

Today$1.08M

12 mo$2.7M

Full ramp

$1.18M

Current partners at full volume

2.5×

Full scale

$2.94M

As partners grow their book

$1.18M from already-signed partners alone. $2.94M as their customer base scales.

*$1.08M gated on Fillip pilot launch (May 2026)

Pipeline

09 / 14

Inbound demand

The pipeline came to us.

$100M+

Revenue in our pipeline

100%

Inbound · zero outbound

8 active conversations · 4 industry categories · All require Slate's capital infrastructure to proceed

HR & Payroll

Target close Q3 2026 → Q1 2027

~$65M

Payment Processors

Target close Q3 → Q4 2026

~$40M

Corporate Spend

Target close Q3 2026 → Q1 2027

~$10.5M

Healthcare Staffing

Target close Q3 2026

~$135k

Demand is outpacing our ability to deploy. The constraint isn't sales — it's capital.

Business Model

10 / 14

How we make money

Platform floor. Lending ceiling.

Platform economics — per partner · regardless of loan volume

01

Integration

$10k–$50k

per partner

One-time at signing

02

Platform fee

$1k–$10k

per partner / month

Monthly · recurring

03

Monthly minimum

$2.5k+

per partner / month floor

Guaranteed floor

Lending economics — per loan · compounds with every dollar deployed

04

Origination

200 bps

of loan principal

At origination

05

Servicing

$5

per loan / month

Per active loan

06

Lending fee

15%

per loan

Charged to borrower

≥$30k / year floor per partner + lending compounds with capital deployed

Platform fees set the floor. Lending compounds the ceiling.

Market

11 / 14

The opportunity

40 million SMBs. The shift is now.

$46B+

US embedded lending market by 2034

40M

SMBs in North America

5% → 25%

Of SMB lending embedded by 2030. 5× growth.

Every platform that touches an SMB is a potential partner

Banks

Fintechs

Payroll

Marketplaces

Card issuers

Vertical SaaS

Why now

We thought the US wedge would come at Series A. Pipe and Parafin's broadcast model means it's open now — they have distribution, not intelligence. The incumbents fish in the right pond. They don't know how to fish.

We don't need to find the market. The market is already our partners' customers.

Competition

12 / 14

Where we sit

Capital is everywhere. Architecture isn't.

The market is full of embedded lenders. Only Slate ships the infrastructure layer underneath them.

Legacy embedded lending

The new layer

Stripe Capital

Pipe

Parafin

Liberis

Embedded across multiple platforms

—

Stripe-only

✓

Multi-product capital offerings

✓

—

MCA only

✓

Only Slate

Event-based offer detection

payroll-due, cash crunch, growth inflection — not just eligibility

—

◐

lifecycle only

✓

Flexible capital architecture

platform balance sheet + our own + future facility — not single-source

—

✓

Decision transparency for partners

platforms see why a merchant qualified — black-box decisioning is the default

—

✓

Lifecycle = matched to merchant business stage (new → growth → mature). Event-based = matched to specific transactional moments (payroll cycle, cash crunch, growth inflection).

The moat

These rows aren't features. They're architecture. Retrofitting multi-source capital, decision transparency, and event-based detection onto a single-balance-sheet lender means rewiring bank partnerships, capital markets ops, and risk systems — not a quarterly product release.

Capital is commoditized. Architecture isn't.

Backers

13 / 14

Board, Advisors & Investors