Slash raises $100M
Slash, a business‑banking platform, closed a $100 million Series C at a $1.4 billion valuation and announced Twin, an AI private banker designed to automate business financial management. The company says it reached $250M ARR with just 60 employees, positioning Twin as a core product play in automated treasury and payments. (x.com)
Slash raised a $100 million Series C on April 16, valuing the business-banking startup at $1.4 billion. (slash.com) Ribbit Capital led the round, with Khosla Ventures and Goodwater Capital as co-leads, and New Enterprise Associates and Y Combinator also participated, Slash said. The company said the financing brings its total capital raised to more than $160 million. (slash.com) Slash said it reached $250 million in annual recurring revenue with 60 employees after growing from $10 million to $250 million in about 18 months. Bloomberg reported the company is run by co-founders Victor Cardenas and Kevin Bai, both 24. (slash.com) (bloomberg.com) The company’s pitch is that business banking can sit in one system that handles accounts, cards, bill pay, accounting, and payments instead of forcing finance teams to stitch together separate tools. Slash said it now processes more than $30 billion in annualized payment volume for more than 5,000 businesses. (slash.com) (markets.financialcontent.com) Alongside the fundraise, Slash introduced Twin, an artificial-intelligence financial assistant that works inside Slack and by text. Slash said Twin can answer questions about balances, transactions, spending, card limits, and account details in plain English. (slash.com 1) (slash.com 2) Slash said Twin can also automate tasks, including creating cards, handling invoices, and routing requests through role-based permissions so employees only see the financial data they are allowed to access. The company launched a related product in March that lets outside artificial-intelligence agents connect to Slash through Model Context Protocol, a standard for linking software tools to models. (slash.com 1) (slash.com 2) The company is pushing into a crowded market. TechCrunch described Slash as a competitor to Ramp and Brex, two larger fintech companies that also sell corporate cards and finance software to businesses. (techcrunch.com) Slash did not start there. In 2023, TechCrunch described it as a neobank for Gen Z entrepreneurs and side-hustle workers; its current Y Combinator profile says it now sells banking, corporate cards, and stablecoin payments globally. (techcrunch.com) (ycombinator.com) The new money is earmarked for product investment, and Slash said Twin is central to that next phase. The company’s bet is that the same platform that moves money can also become the interface that tells businesses where their money is going. (slash.com)
