📝 Slate raises $1M

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Slate has closed a $1 million pre-seed funding round led by N49P and North Exit Ventures to eliminate the 12-to-18-month "engineering heavy-lift" traditionally required for companies to offer business loans. Founded in late 2025 by industry veterans Scott Elliot and Devin Picciolini, the platform provides API-first, "enterprise-grade" infrastructure that allows vertical SaaS providers and payment firms to embed white-labeled lending directly into their existing ecosystems in under a week. By leveraging proprietary underwriting data and AI-powered risk assessment, Slate handles the entire back-end complexity—including capital sourcing, regulatory compliance, and automated repayment collection—enabling platforms to deepen customer retention and unlock new revenue streams without pivoting their core business. With an inaugural team of six and early backing from strategic angels like Wealthsimple’s Hanna Zaidi, the startup is positioning itself at the forefront of a "rebundling" phase in Canadian fintech, where small businesses increasingly seek integrated financial tools within the software they already use to manage daily operations.

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