Slash FinanceThe company, which offers business bank accounts, corporate credit cards, transfers and cryptocurrencies, 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 nearly five years ago by CEO Victor Cardenas and CTO Kevin Bai, both 19 and now 24. Bloomberg reports. They dropped out of college to start a fintech company focused on sneaker retailers. When the startup’s main client, Yeezy, ran into trouble after founder Kanye West made anti-Semitic remarks, they focused on several verticals.
Now, the startup has gone mainstream without targeting any industry, Cardenas said he said in a blog post about growth. According to him, the company generates $300 million in annual revenue with profits and claims 5,000 companies as customers. Despite such growth numbers, it has plenty of competition, including Slash Ramp worth $32 billion and more recently Brex Acquired by Capital One.
