Slash, a San Francisco-based fintech startup, has raised $19M in Seed and Series A funding to expand its online banking platform tailored for the “hustle economy.” The rounds were led by NEA and included participation from Menlo Ventures, Connect Ventures, Y Combinator, Soma Capital, Global Founders Capital, and angel investors William Hockey and Justin Mateen. The funds will be used to enhance operations and reach a wider audience.
Slash, co-founded by Victor Cardenas and Kevin Bai, offers a unique banking solution for young entrepreneurs engaged in online commerce and communities. Customers can manage both personal and business bank accounts from a single dashboard, streamlining their financial transactions. The platform also supports a variety of income streams, including online community monetization, game development, online arbitrage, sneaker reselling, and dropshipping.
With a focus on data security, Slash employs encryption, firewalls, and server authentication to safeguard user information. As the company grows, it aims to become a comprehensive legal and financial resource for young entrepreneurs, offering services such as incorporation, invoicing, automated bookkeeping, and tax management. Currently, over 20,000 entrepreneurs utilize the platform.
