Slash, a San Francisco, CA-based provider of an online banking platform for the “hustle” economy, raised $19M in Seed and Series A funding.
The rounds were led by NEA with additional participation from Menlo Ventures, Connect Ventures, Y Combinator, Soma Capital, Global Founders Capital, and angel investors William Hockey, and Justin Mateen.
The company intends to use the funds to expand operations and its business reach.
Co-Founded by Victor Cardenas and Kevin Bai, Slash is an online bank serving young entrepreneurs whose businesses are in online commerce and communities. Customers can manage two separate bank accounts for personal and business from the same dashboard, transferring money between the two. They can make money in many ways, including:
- Running paid online communities on Discord and Telegram
- Making and monetizing Roblox games
- Engaging in online arbitrage on Amazon
- Reselling sneakers on StockX, GOAT, and in-person conferences like GotSole
- Dropshipping
Slash uses data encryption, firewalls and server authentication technologies to protect the security of users’ data. In addition to building the banking platform, the company aims to become a legal and financial one-stop shop to help young entrepreneurs run all aspects of their business—including incorporation, invoicing, automated bookkeeping, and tax management.
Today, it is used by over 20,000 entrepreneurs.
FinSMEs
04/05/2023