Slash, the vertical banking startup founded by two college dropouts, raises $100M Series C at $1.4B valuation led by Khosla Ventures and Ribbit Capital.

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Slash, a San Francisco-based vertical banking platform founded by two college dropouts, has raised $100M in a Series C round at a $1.4B valuation, led by Khosla Ventures and Ribbit Capital. The company's valuation has nearly quadrupled since its Series B in May 2025. Slash's origin story is unusual: it initially built banking services for sneaker resellers, but when Kanye West's antisemitic statements caused Adidas to terminate its Yeezy partnership and collapse the sneaker resale market, Slash's revenue dropped 80% overnight. The founders pivoted to vertical banking for online businesses, targeting specific niches like performance marketing firms, web3, e-commerce, agencies, and healthcare suppliers. The platform now offers corporate cards, stablecoin payments, treasury management, working capital, global USD accounts, and AI agents, built on Column, a chartered bank designed for fintech companies.

The fintech that pivoted because of Kanye West just hit a $1.4B valuation