Slash, a vertical banking platform founded by college dropouts, has raised $100M in a Series C led by Khosla Ventures and Ribbit Capital, nearly quadrupling its valuation since its Series B in May 2025, following its initial market collapse. The San Francisco-based company now valued at $1.4 billion, reported by Bloomberg, initially served sneaker resellers before pivoting to vertical banking for online businesses after the Yeezy market’s collapse. Founded by Victor Cardenas and Kevin Bai, Slash focused on performance marketing firms post-pivot, building tailored financial products for distinct sectors. Its expanded suite now includes corporate cards, business banking, stablecoin payments, treasury management, and more, supported by Column. The backing by Khosla Ventures and Ribbit Capital reflects confidence in Slash’s vertical model’s potential to dominate commercial credit card issuance in niche markets. Cardenas envisions solving niche financial workflows to become a leading credit card issuer.
Fintech Startup Inspired by Kanye West Achieves $1.4B Valuation
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