Slash Raises $41M Series B , Reaching $370M Valuation

Business banking platform Slash has raised $41 million in a new funding round, bringing its total capital raised to $60 million and valuing the company at $370 million. The round was led by Goodwater Capital, NEA, and Menlo Ventures.

Founded with the mission of eliminating financial busywork for businesses, Slash pivoted 14 months ago from serving sole proprietors to addressing the more complex, vertical-specific needs of larger businesses. Since the shift, the company has emerged as one of the fastest-growing corporate card providers in the U.S., with annualized card spend surpassing $3 billion in record time. Its products have gained popularity among agencies, affiliates, crypto companies, contractors, and other digital-first businesses.

The company’s approach is driven by three core insights: that entrepreneurs and finance teams spend excessive time on repetitive financial tasks; that this busywork often varies by industry; and that it can be eliminated by integrating workflow automation directly into financial infrastructure.

Unlike traditional banks that compete on yields and rewards, and generalist fintechs that offer the same tools across industries, Slash focuses on building software that addresses the unique needs of each sector. By combining its corporate card and bank account infrastructure with tailored financial apps, Slash is positioning itself as a new kind of banking platform — one that understands and adapts to the specific workflows of modern businesses.

Investors view Slash’s vertically integrated model as a significant step forward in the evolution of business banking, especially for high-growth sectors underserved by one-size-fits-all financial tools.

For more information, visit www.joinslash.com.