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← Embedded Finance Index 2026

Slash

“Can a stablecoin-native business banking platform become the financial OS for global SMBs who need USD access, corporate cards, and working capital without a U.S. entity?”

Founded2020
HQSan Francisco, CA, USA
FoundersVictor Cardenas, Kevin Bai
Total raised$160M+
Latest roundSeries C, April 2026
Valuation$1.4B post-money (2026)
IndustryFintech / SMB banking
The story

Founded in 2020 as a consumer virtual-card platform (TabTabApp) for splitting expenses among teens and sneaker resellers, Slash pivoted to SMB business banking after its primary customer base collapsed when Yeezy fell apart in 2022. The company rebuilt around corporate cards, high-yield accounts, and working capital for commerce-focused businesses, reaching 10,000+ customers by 2026. Most recently, Slash extended its platform into stablecoin-powered global USD accounts and AI-driven bill pay, positioning itself as a full financial OS for modern businesses — particularly international and crypto-native SMBs.

Last 12 months
2026-04
In the April 2026 recap →
2026-04
In the April 2026 recap →
2026-04
In the April 2026 recap →
2026-08
In the August 2026 recap →
Product timeline
2020
Founded as TabTabApp by college dropouts Victor Cardenas (Stanford) and Kevin Bai (University of Waterloo), initially building a virtual card platform for splitting recurring expenses.· pivot
2022
Platform became popular with teen sneaker resellers and commerce-focused entrepreneurs; pivoted from consumer split-payments toward business banking after key customer Yeezy collapsed following Kanye West controversy.· pivot
2023
Launched Gen Z-focused business banking suite with virtual and physical corporate cards, free domestic wires, and ACH — targeting young self-employed entrepreneurs.· banking
2025
Raised $41M Series B at $370M valuation; launched Slash Working Capital powered by lending partner Slope; launched QuickBooks accounting integration.· lending
2026
Raised $100M Series C at $1.4B valuation; launched Global USD Account with own USDSL stablecoin issued via Stripe's Bridge for cross-border business payments.· banking
2026
Launched AI-powered Bill Pay with multi-rail support (ACH, wire, SWIFT, card, crypto, FedNow); added Xero and Sage Intacct accounting integrations.· banking
2026
Launched Global Cards product enabled by Rain's stablecoin-powered card infrastructure, allowing international businesses to spend via Visa without a U.S. entity.· card
The stack
11 layers disclosed in Slash’s embedded-finance stack
Payments / PSP
Column N.A. (ACH / wire)Bridge by Stripe (stablecoin rails)Rain (stablecoin card infrastructure)
Sponsor bank
Column N.A.
Money movement
in the full report
Banking / BaaS
in the full report
Card issuing
in the full report
Card network
in the full report
Lending
in the full report
FX & payouts
in the full report
Crypto
in the full report
Investing
in the full report
Accounting
in the full report
Accounting gap: minor
19 more providers across 9 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.

Slash — frequently asked

What bank does Slash use?

Slash discloses Column as its banking provider, with Column N.A. as its sponsor bank, according to the Embedded Finance Index 2026.

Is Slash a bank?

Slash does not disclose a bank charter of its own; its banking services are provided through Column N.A..

Who is Slash's payment processor?

Slash processes payments through Column N.A. (ACH / wire), Bridge by Stripe (stablecoin rails) and Rain (stablecoin card infrastructure). Disclosed money-movement rails: ACH, FedNow and SWIFT.

Who issues Slash's cards?

Slash's cards are issued through Column on the Visa network.

Who provides Slash's lending?

Slash's lending and capital products are provided by Slope and Lead Bank.

Who handles Slash's FX and cross-border payouts?

Slash uses Bridge by Stripe and Rain for FX and cross-border payouts.

Which crypto provider does Slash use?

Slash's crypto products run on Bridge by Stripe, Layer2 Financial and Column.

Who powers Slash's investing products?

Slash's investing and wealth products are powered by Atomic Invest and Atomic Brokerage.

Which accounting software does Slash integrate with?

Slash integrates with QuickBooks, Xero and Sage Intacct.

What is Slash's embedded finance stack?

The Embedded Finance Index 2026 maps 11 layers in Slash's stack: Payments / PSP (Column N.A. (ACH / wire), Bridge by Stripe (stablecoin rails) and Rain (stablecoin card infrastructure)); Money movement (ACH, FedNow and SWIFT); Banking / BaaS (Column); Card issuing (Column); Card network (Visa); Lending (Slope, Lead Bank and Slash Working Capital (term loans: 30/60/90-day, line of credit)); Sponsor bank (Column N.A.); FX & payouts (Bridge by Stripe and Rain); Crypto (Bridge by Stripe, Layer2 Financial and Column); Investing (Atomic Invest and Atomic Brokerage); Accounting (QuickBooks, Xero and Sage Intacct).

Who founded Slash?

Slash was founded by Victor Cardenas and Kevin Bai and is founded in 2020, headquartered in San Francisco, CA, USA.

How much funding has Slash raised?

Slash has raised $160M+ in total (latest round: Series C, April 2026; valuation: $1.4B post-money (2026)).

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