Slash raises $100M at a $1.4B valuation to expand AI-powered banking platform for online businesses

Business banking startup Slash Financial Inc. today announced that it has raised $100 million in new funding on a $1.4 billion valuation to continue product development and build out its artificial intelligence-driven back office for small and midsized businesses.

Founded in 2020, Slash operates a banking platform built for modern online businesses rather than a bank itself.

The company offers a product suite that combines Federal Deposit Insurance Corp.-insured business checking and corporate cards with uncapped cash-back, expense management, treasury, global payments, invoicing, working capital and stablecoin support into a single platform.

Slash offers deposit accounts and card services provided by Column N.A., with Slash operating as the software layer. Corporate cards are issued as Visa charge cards and offer cashback on spend across categories and treasury functionality routes idle cash into money market funds through a partnership with Atomic Invest LLC.

The platform also bundles expense management, accounting automation, invoicing and an application programming interface for businesses that want to build custom workflows on top of Slash.

Slash has focused on vertical-specific tooling, building features aimed at affiliate marketers, e-commerce operators, agencies, healthcare providers, contractors, wholesalers, online travel agencies and Web3 firms. The company serves more than 5,000 businesses, including voice artificial intelligence startup Bland Inc., accounting software firm Entry Inc., gaming company Triumph Labs Inc. and direct-to-consumer brands Drink Nectar Inc. and Hike Outdoor LLC.

The funding round today marks the first time Slash has surpassed a valuation of $1 billion, with the path to unicorn status coming about after the company pivoted earlier on from a company serving sneaker resellers to business banking, with AI thrown in for good measure. That shift has worked a treat, with Slash having surpassed $1 billion in annualized card volume in 2024 before hitting $3 billion in 2025.

The Series C round was led by Ribbit Capital, Khosla Ventures and Goodwater Capital LP, with New Enterprise Associates Inc. and Y Combinator also participating.

The new capital will fund further product development as the company moves to position its platform as an autonomous finance function for customers.

“By the end of the year, Slash will run your financial back office for you,” Chief Executive Victor Cardenas wrote in a blog post. “Every waking second of a business owner’s time should be spent on the needle-moving parts of their business: not their finances, not accounting busywork.”

The investment arrives as venture investors continue to back business banking startups targeting specific industry verticals, a category that includes competitors such as Mercury Technologies Inc. and Ramp Business Corp. Slash has differentiated itself by building workflow software for narrow verticals, including affiliate marketers, crypto-native firms and home services operators.

Image: Slash