slash financialThe company, which offers business banking accounts, corporate credit cards, transfers, and crypto, announced it has raised a $100 million Series C round from a crowd of A-list investors at a valuation of $1.4 billion.
Fintech-focused Ribbit Capital, Khosla and Goodwater Capital led the round. Returning investors NEA and Y Combinator also invested.
Slash was founded about five years ago by CEO Victor Cardenas and CTO Kevin Bai, both of whom were 19 at the time and are now 24. Bloomberg report. He dropped out of college to create a fintech company focused on sneaker resellers. When the startup’s main customer, Yeezy, ran into trouble after its founder Kanye West made anti-Semitic remarks, it turned to focusing on a few verticals.
Now, the startup has become generalist, not targeting any one industry, Cardenas Told in my blog post About the hike. He said the company is generating $300 million in revenue annually with profits and claims to have 5,000 companies as customers. Even with such growth numbers, Slash has plenty of competition $32 billion valuation ramp and brakes, which was recently Acquired by Capital One.
