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May 20, 2025 – Slash, the innovative fintech platform revolutionizing business banking, has secured $41 million in Series B funding, bringing its total funding to over $60 million. The round was led by Goodwater Capital, with continued support from New Enterprise Associates (NEA), Menlo Ventures, and Y Combinator. Prominent angel investors, including John Andrew Entwistle, Joshua Browder, and Zach Abrams, also participated. Slash, founded by Gen Z college dropouts Victor Cardenas and Kevin Bai, is building a verticalized neo-banking platform tailored to the unique needs of online businesses.
Slash offers a comprehensive suite of financial tools, including checking accounts, virtual and physical cards with cashback, ACH and wire transfers, and integrations with major accounting software. The platform also enables multiple users, real-time account segmentation, and seamless crypto-fiat management.
"We're building Slash to address the specific pain points of modern businesses that traditional banks often overlook," said Victor Cardenas, co-founder of Slash. "Our vertical approach allows us to create highly tailored solutions for different industries, empowering businesses to manage their finances more efficiently."
Key Features and Benefits of Slash:
- Verticalized Approach: Customized banking solutions for performance marketing, e-commerce, crypto, and other online industries.
- Comprehensive Financial Tools: Checking accounts, virtual and physical cards with up to 2% cashback, ACH/wire transfers, and accounting integrations.
- Multiple Users and Permissions: Granular control and streamlined collaboration for teams.
- Real-Time Account Segmentation: Improved financial tracking and management with virtual accounts.
- Seamless Crypto-Fiat Management: Easy conversion between crypto and fiat currencies within the platform.
- High-Efficiency Services: Reduced overhead compared to traditional banking.
- Strong Investor Backing: Support from leading venture capital firms and angel investors.
Addressing the Needs of Modern Businesses:
Slash is designed to solve the challenges faced by online businesses using traditional banking systems. The platform's vertical focus allows for a more customized and efficient approach to financial management, catering to the unique needs of each industry.
Experienced Team and Investors:
Slash is backed by a seasoned team and prominent investors, including the founders of Tinder and Plaid. This expertise and financial backing position Slash for continued growth and innovation in the fintech space.
Continued Growth and Expansion:
With this new funding, Slash plans to expand its team, enhance its platform, and target new verticals, solidifying its position as a leader in the evolving landscape of business banking. The company is processing approximately $300 million per month on its cards and aims to become a major player in the commercial credit card issuing space.
Compiled by CMO Intern team
