Business Banking Startup Slash Secures $41M in Series B Funding, Achieving $370M Valuation
San Francisco-based business banking startup Slash has successfully secured US$41 million in Series B funding, elevating its valuation to US$370 million. This significant investment showcases the growing demand for innovative banking solutions tailored for the modern entrepreneur.
Funding Details and Investors
The latest funding round was spearheaded by Goodwater Capital, with continued support from existing investors such as New Enterprise Associates (NEA), Menlo Ventures, and Y Combinator. Notably, Hatim Khety, a partner at Goodwater Capital, will join Slash’s board of directors, bringing valuable expertise to the startup.
Previous Funding Rounds
This funding round follows a successful US$19 million raised during the company’s Series A and seed funding stages two years prior. Additionally, Slash received support from angel investors associated with DoNotPay, Wander, and Bridge.
About Slash’s Services
Founded by CEO Victor Cardenas Codriansky and CTO Kevin Bai, Slash specializes in offering business banking services that cater specifically to online entrepreneurs. Their platform includes:
- Checking accounts
- Automated accounting tools
- Virtual and physical payment cards
- Wire and ACH transfer features
All these services are conveniently accessible through a user-friendly mobile app.
Target Industries and Growth
Initially aimed at individuals reselling trainers online, Slash has expanded its focus to encompass a variety of industry verticals, including:
- Cryptocurrency firms
- Marketing agencies
- Building systems technicians
Currently, Slash supports approximately 2,000 US-based businesses and processes over US$3 billion in annual card transactions.
Future Plans and Team Expansion
According to a recent LinkedIn post, the newly acquired capital will be allocated to further enhance Slash’s platform to meet the distinct needs of various industries. The company is also in the process of expanding its team. Codriansky has recently posted a job advertisement for a data engineer to help develop the internal analytics stack, ensuring that the team remains efficient and informed.
For more information about Slash and its services, visit their official website: Slash.com.
