Valuation · TechCrunch
Slash, a Ramp competitor founded by teenagers, lands $100M at $1.4B valuation
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Five years later the founders, now 24 years old, say their startup has achieved $300 million in annualized revenue.
Key facts
- Slash Financial, which offers business banking accounts, corporate credit cards, transfers, and crypto, has raised a $100 million Series C round at a $1.4 billion valuation from a crowd of A-list
- Slash was founded about five years ago by CEO Victor Cardenas and CTO Kevin Bai, both who were 19 years old at the time, and are now 24, Bloomberg reports
- He said the company is generating $300 million in annualized revenue, profitably, and claims 5,000 companies as customers
- Even with such growth numbers, Slash has plenty of competition, including $32 billion valuation Ramp and Brex, which was recently acquired by Capital One
Summary
Slash Financial, which offers business banking accounts, corporate credit cards, transfers, and crypto, has raised a $100 million Series C round at a $1.4 billion valuation from a crowd of A-list investors, the company announced. Fintech-focused Ribbit Capital, Khosla, and Goodwater Capital led the round. Slash was founded about five years ago by CEO Victor Cardenas and CTO Kevin Bai, both who were 19 years old at the time, and are now 24, Bloomberg reports. When the startup’s main customer, Yeezy, hit trouble after its founder Kanye West spewed antisemitic remarks, they pivoted to focus on a few verticals.