Slash raises $100M in Series C Funding led by Ribbit Capital

The round also saw new investor Khosla Ventures and Goodwater Capital, who led Slash’s Series B just 16 months ago, co-led the round. Other investors included New Enterprise Associates and Y Combinator. The raise brought the total amount to $160M.

The company plans to use the funds to grow its operations and continue developing its products.

Slash has grown from a startup into a business banking platform, handling over $30 billion in yearly payment volume and serving more than 5,000 businesses across different industries.

Twin, the new AI-powered financial agent from Slash, adds more intelligence and automation to customer workflows. It works like an AI Chief of Staff, using access to a company’s Slash account to provide insights on financial tasks and take action, such as making payments through cards or bank transfers.

Twin from Slash changes how businesses manage their finances. Instead of logging into a dashboard to handle tasks manually, users can ask Twin to handle actions like payments, invoices, and card creation, using real-time data from across their accounts.

The idea is to let an intelligent agent manage financial tools automatically. Twin operates through a secure system that protects sensitive account and card information while performing these tasks.

Slash has raised $160 million to date. In 2024, it raised $41 million in a Series B round led by Goodwater Capital, New Enterprise Associates, and Menlo Ventures. Earlier, in 2023, it raised $19 million in Seed and Series A funding with support from investors including Y Combinator and others.

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“We went from $10 million to $250 million in annualized revenue in 24 months,” said Victor Cardenas, CEO and co-founder, Slash Financial. “This round lets us build the next layer of what Slash can do: more industries, more markets, more of the financial tools businesses actually need. The support from Ribbit, Khosla, and Goodwater is invaluable and will enable us to build what’s next, faster.”

"What drew us to Slash was the speed and conviction we saw from Victor, Kevin, and the team,” said Micky Malka, founder of Ribbit Capital. “The ratio of output to headcount is something we're only starting to see from the best AI-native companies. They're building the bank of the future, where agents handle the processes that used to require entire departments. We couldn't be more excited to partner with them."

“Slash is building the financial operating system for a new class of business: lean, high-velocity operators who will move more money with fewer people than anyone thought possible,” said Jai Sajnani, Partner at Khosla Ventures. “What excites us is the underlying model: go deep in one industry, earn the right to expand, repeat. Slash is on its way to becoming an indispensable platform for operators building with AI.”

"AI is enabling a new generation of SMBs and solo entrepreneurs to operate at unprecedented scale,” added Eric Kim, Co-Founder and Managing Partner of Goodwater Capital. “That shift demands a modern financial stack built for how they actually work. Slash is building the Finance Operating System to meet this unique moment, bringing banking, payments, and software into a single platform. We’re excited to co-lead their Series C."

About Slash Financial

Founded in 2021, by Victor Cardenas and Kevin Bai, Slash is a San Francisco-based banking platform for modern businesses. It offers business checking, corporate cards, expense and treasury management, global payments, and stablecoin support in one place. Slash serves digital-first companies across industries such as e commerce, healthcare, and crypto, with banking services provided by Column N.A., an FDIC member.

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