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

In Brief

Slash Financial, which offers concern banking accounts, firm recognition cards, transfers and crypto, has raised a $100 cardinal Series C circular astatine a $1.4 cardinal valuation from a assemblage of A-list investors, the institution announced.

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

Slash was founded astir 5 years agone by CEO Victor Cardenas and CTO Kevin Bai, some who were 19 years aged astatine the time, and are present 24, Bloomberg reports. They dropped retired of assemblage to physique a fintech institution focused connected sneaker resellers. When the startup’s main customer, Yeezy, deed occupation aft its laminitis Kanye West spewed anti-Semetic remarks, they pivoted to absorption connected a fewer verticals.

Now, the startup has go generalist, not targeting immoderate 1 industry, Cardenas recounted successful his blog post astir the raise. He said the institution is generating $300 cardinal successful annualized revenue, profitably, and claims 5,000 companies arsenic customers. Even with specified maturation numbers, Slash has plentifulness of competition, including $32 cardinal valuation Ramp and Brex, which was precocious acquired by Capital One.

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