Slash Financial, a San Francisco-based business banking platform, has reached unicorn status after closing a $100m Series C funding round that values the company at $1.4bn.
The round was led by Ribbit Capital, with new investor Khosla Ventures and returning backer Goodwater Capital, which led Slash’s Series B just 16 months prior, co-leading the raise. New Enterprise Associates and Y Combinator also participated, each investing in Slash for a fourth consecutive time.
The latest round brings total capital raised by the company to over $160m.
The fundraise arrives on the back of considerable momentum for the company. Slash surpassed $250m in annualised revenue in 2025, having grown from $10m to that figure in just 24 months. It also exceeded $1bn in annualised stablecoin payment volume within nine months of launching the product. The platform now processes more than $30bn in annualised payment volume and counts more than 5,000 businesses among its customers.
Founded in 2021, Slash has developed from an early-stage startup into a multi-product business banking platform catering to digital-first businesses across sectors including affiliate marketing, e-commerce, healthcare, home services, and digital assets.
The platform brings together FDIC-insured business checking, corporate cards with uncapped cashback rewards, expense management, treasury management, global payments, and stablecoin support into a single offering. Banking services are provided by Column N.A., Member FDIC.
Prior to the Series C, Slash raised $41m at a $370m valuation during its Series B, led by Goodwater Capital, NEA, and Menlo Ventures. In 2023, the company secured $19m across its Seed and Series A rounds, with backing from NEA, Y Combinator, Menlo Ventures, Connect Ventures, Soma Capital, Tinder co-founder Justin Mateen, Plaid co-founder William Hockey, and other investors.
Alongside the funding announcement, Slash revealed its most significant product investment to date: Twin, an AI-powered financial agent described as an AI chief of staff. Twin is designed to handle financial workflows on behalf of businesses by drawing on contextual access to a company’s full Slash account.
Rather than manually logging in to execute transactions, users can instruct Twin to carry out actions including payments, invoice generation, and issuing new cards, all underpinned by real-time data spanning card spend, treasury, virtual accounts, and reimbursements. The system operates through a secure agent layer intended to keep sensitive account and card information protected.
Slash Financial CEO and co-founder Victor Cardenas said, “We went from $10 million to $250 million in annualized revenue in 24 months. 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.”
Ribbit Capital founder Micky Malka said, “What drew us to Slash was the speed and conviction we saw from Victor, Kevin and the team. 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.”
Khosla Ventures partner Jai Sajnani said, “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. 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.”
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