Slash, a startup company specializing in cryptocurrency business, has completed a $41 million Series B funding round

According to Fortune magazine, vertical banking startup Slash announced the completion of a $41 million Series B funding round, with a post investment valuation of $370 million. This round is led by Goodwater Capital with an investment amount of $37 million. It has been two years since Slash raised $19 million in Series A and Seed funding. The new funds will be used to expand into new fields such as e-commerce, online travel, and property management. The two co founders of the company, Victor Cardenas and Kevin Bai, born in 1995, are both college dropouts. Slash initially focused on providing banking services for sneaker resellers, but in 2023, due to Kanye West's anti Semitic remarks, the value of the Yeezy series plummeted, causing the company's revenue to shrink by 80% overnight. Within the next 18 months, the company transformed into providing customized financial services in vertical fields such as performance marketing agencies, encrypted enterprises, and HVAC operators. Currently, the monthly transaction volume has reached 300 million US dollars. Slash collaborates with licensed bank Column to provide specialized services such as fiat and cryptocurrency exchange for cryptocurrency enterprises.