Teen-founded fintech Slash raises $100M

Fintech startup Slash, founded by teenagers Victor Cardenas and Kevin Bai, has secured $100 million in Series C funding, valuing the company at $1.4 billion. The round was led by Ribbit Capital, Khosla Ventures, and Goodwater Capital, with participation from existing investors NEA and Y Combinator. Slash offers business banking, corporate credit cards, and transfers, and has expanded its services beyond its initial focus on sneaker resellers. The company reports generating $300 million in annualized revenue profitably and serves 5,000 business customers, positioning itself as a competitor to established players like Ramp and Brex.