Slash Secures $41M In Series B Funding Led By Goodwater Capital NEA And Menlo Ventures

Slash, a San Francisco-based banking platform tailored for online businesses, raised $41 million in Series B funding at a $370 million valuation. The funding was backed by Goodwater Capital, NEA, and Menlo Ventures, bringing its total funding to $60 million.

Summary of transaction details:

• Deal Type: Series B
• Transaction Amount: $41,000,000
• Valuation: $370,000,000
• Notable Investors: Goodwater Capital, NEA (New Enterprise Associates), Menlo Ventures
• Number of Businesses Served: Over 2,000

Co-founded by Victor Cardenas and Kevin Bai, Slash offers features such as checking accounts, physical and virtual cards with high cash back, ACH and wire payments, and multi-user access. The company also integrates with major accounting tools and plans to use the new capital to fuel product development and operational expansion.