Slash, a Ramp competitor founded by youngsters, raises $100M at $1.4B valuation

Slash, a Ramp competitor founded by youngsters, raises $100M at $1.4B valuation

Slash Financial, which presents enterprise banking accounts, company bank cards, transfers, and crypto, has raised a $100 million Series C round at a $1.4 billion valuation from a crowd of A-list traders, the company announced.

Fintech-focused Ribbit Capital, Khosla, and Goodwater Capital led the round. Returning traders NEA and Y Combinator also invested.

Slash was founded about 5 years in the past by CEO Victor Cardenas and CTO Kevin Bai, each who have been 19 years outdated at the time, and are now 24, Bloomberg stories. They dropped out of school to build a fintech company targeted on sneaker resellers. When the startup’s main buyer, Yeezy, hit hassle after its founder Kanye West spewed antisemitic remarks, they pivoted to concentrate on a few verticals.

Now, the startup has change into generalist, not focusing on anybody business, Cardenas recounted in his weblog publish about the increase. He said the company is producing $300 million in annualized income, profitably, and claims 5,000 firms as prospects. Even with such development numbers, Slash has loads of competitors, including $32 billion valuation Ramp and Brex, which was not too long ago acquired by Capital One.

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