Hi, welcome to Tech This Evening, an After-Work Tech Newsletter from Techparley Africa. Sure, there is a lot to unpack right now. Sit back, while I walk you through.
Top Story: AI-Powered Lending Startup, Slope, Partners with Amazon to Offer Reusable Credit to U.S. Sellers
Slope, an AI-powered lending startup, is partnering with Amazon to provide a reusable line of credit to eligible U.S. sellers, backed by a JPMorgan Chase credit facility.
According to CNBC, the company revealed that Amazon vendors can apply for and access funding directly through their Amazon Seller accounts, with real-time approvals.
The integration allows sellers to draw from their line of credit as needed and choose repayment terms ranging from three months to a year, aligning with their inventory cycles.
Slope said interest rates start at 8.99% APR, and eligibility requires at least one year of business operation with over $100,000 in annual revenue. Financial details of the deal between Slope and Amazon were not disclosed.
Other Tech News Stories You Should Read:
HALA Capital Expands into Fintech, AI and Logistics as Saudi Arabia’s VC Grows – Here’s What It Means For Startups. Read now.
How Kenyan Startup, Ambesa, is Digitising B2B Commerce and Reducing Costs for African SMEs. Read now.
ChemLex Launches AI Self-Driving Drug Laboratory in Singapore Following $45 Million Funding Round. Read now.
On Startup Spotlight:
Viola Ventures Launches $250 Million in New Funds to Support Startups in Israel’s Tech Ecosystem
Viola Ventures has announced the launch of two new investment funds totalling approximately US$250 million, signalling its continued commitment to Israel’s technology sector across both early and growth-stage companies.
The move comes amid structural changes in the Israeli venture capital market and a slowdown in new startup formation, highlighting the firm’s long-term strategy to support innovation despite challenging market conditions.
The first of the new vehicles, Viola Conviction Fund I, is a dedicated secondary fund sized at around US$100 million. It is designed to provide liquidity and ongoing capital to existing portfolio companies, allowing mature assets to continue scaling even as late-stage capital becomes more selective.
By targeting established assets within its portfolio, the fund aims to stabilise growth for companies that have demonstrated strong performance potential but may face limited options in the current market environment.
Quadri Adejumo brings you all the details. Read here.
Also Read:
South Africa’s Ezeebit Raises $2.05 Million to Power Crypto Payments and Stablecoin Adoption Across Africa. Yakub Abdulrasheed brings us the details, here.
Quote of the Day:
“Any sufficiently advanced technology is equivalent to magic.” – Arthur C. Clarke.
Thank you for joining me yet again this evening. Stay safe, and see you tomorrow for the next tech newsletter.
Best, Quadri
