FinTech Slash Has Raised $100M
Hey FinTech Fanatic!
FinTech startup Slash has raised $100M in Series C funding despite a crowded business banking market to challenge incumbents like Ramp and Brex with AI-powered solutions.
The company, which was founded in 2021, offers banking services and tailored features for specific industries and aims to modernize business banking for a new generation of entrepreneurs.
Slash has rapidly evolved from its initial focus on sneaker resellers to serving a diverse range of industries.
The company's core value proposition lies in leveraging AI to automate complex financial processes, offering a more streamlined and responsive banking experience.
Victor Cardenas, Slash’s CEO, emphasized that stablecoins and AI are key enablers for this global reach, allowing Slash to offer a consistent banking product across different geographies.
Digital banking capabilities are expanding across the stack, and this is something I’ve been watching closely.
The rest of the FinTech landscape is waiting below. Let’s get into the news.👇
Cheers,
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FINTECH NEWS
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🇬🇧 eToro relaunched Tori, its AI investing companion, with persistent memory, real-time market sentiment from X via Grok 4.2, and AI-driven Agent Portfolios created through conversation. The relaunch deepens its strategy to embed AI into the investing experience.
PAYMENTS NEWS
🇺🇸 Lobster.cash partners with Mastercard to enable secure AI agent payments for all existing cardholders. The solution will integrate Mastercard Agent Pay and Verifiable Intent, allowing AI agents on open platforms to transact securely using consumers’ existing cards.
🇺🇸 Stablecoin issuer Circle faces a class action lawsuit led by a Drift Protocol investor, alleging it failed to freeze $230M in stolen USDC during a $280M exploit. The suit claims funds were moved across chains without intervention, raising questions over whether firms must act during hacks.
🇸🇪 Klarna will soon be available through Swedbank Pay, giving its merchant network across the Nordics access to Klarna’s payment options. The integration expands Klarna’s reach in Sweden, Norway, Denmark and Finland, with rollout starting in Sweden later this year and in other markets from early 2027.
🇨🇴 Global66 launches “Vaults,” a feature that lets users separate and protect funds in COP, USD, and EUR. It includes two-factor authentication and a 48-hour delay on withdrawals above $1,000, adding a layer of control amid rising digital fraud concerns in Colombia. Read on
REGTECH NEWS
🇱🇹 iDenfy updated its hybrid verification model, combining AI with human reviews to tackle rising synthetic identity fraud, which has increased at least 15% in high-risk sectors. The approach blends automated checks with manual KYC oversight to detect deepfakes and evolving fraud patterns more effectively.
DIGITAL BANKING NEWS
🇩🇪 Vivid launched new model portfolios for SMEs based on Ray Dalio’s “All Weather” strategy, enabling businesses to allocate idle cash into diversified portfolios with projected returns of up to 8%. Once invested, the portfolio runs automatically using predefined allocation principles, with no active management required.
🇧🇷 Z.ro Bank shut down its app for individual users to focus on the B2B segment, which already accounted for about 90% of its revenue. The move reflects a strategic shift toward corporate solutions after the pivot was anticipated back in 2023.
🇬🇧 Anthropic is preparing to offer its Mythos model to British banks through its Glasswing program, after tests revealed it can detect and potentially exploit cybersecurity weaknesses. The company says testing by Mythos has uncovered thousands of “zero-day” vulnerabilities, including within every major web browser and operating system.
🇨🇴 Banco de Bogotá enabled debit and credit cards in Google Pay, allowing users to make contactless payments via NFC and integrate with Google Wallet. The update strengthens its digital payments offering with tokenization to enhance transaction security.
🇺🇸 Alkami has introduced Alkami Code Studio, an AI-powered development tool in beta designed to help financial institutions build and deploy solutions faster. Embedded in its platform, it supports compliant workflows, secure coding, and scalable digital banking experiences.
🇮🇳 Candescent is expanding its presence in India, growing product development across Hyderabad, Mumbai, and Bengaluru. The company now has around 1,000 employees in the country, reflecting a stronger focus on India as a key hub for innovation and engineering.
🇵🇪 BTG Pactual applied for authorization from Peru’s banking regulator to operate as a bank in the country. The request marks a new step in its expansion, following prior approval to establish Banco BTG Pactual Perú, with a planned capital commitment of $100M.
BLOCKCHAIN/CRYPTO NEWS
🌍 Bybit announced its Bybit Card reached 3 million users, driven by everyday spending and global partnerships. Since its launch, Bybit Card has seen strong global adoption as users increasingly incorporate it into their daily spending. It supports crypto-to-fiat payments, cashback rewards, and mobile wallets, positioning it as a bridge between digital assets and daily transactions.
PARTNERSHIPS
🇺🇸 CTBC Bank USA opts for Narmi digital banking platform. A vendor statement confirms that the group's regional subsidiary, CTBC Bank USA, will "implement components of Narmi's digital banking platform", initially covering "account opening, consumer digital banking, and business digital banking capabilities."
🇳🇱 Irdeto signs MOU with Binance to disrupt piracy and cybercrime funded by cryptocurrency. The collaboration focuses on identifying and disrupting users who exploit the platform for copyright, trademark, and other crimes. Irdeto shares detailed reports with Binance to remove bad actors, disrupt payments for illegal services, and prevent escalation into more serious cybercrime.
DONEDEAL FUNDING NEWS
🇺🇸 Wealth.com raises $65M in Series B funding. The company intends to use the funds to accelerate AI and product development, support strategic acquisitions, and expand enterprise and institutional distribution. Continue reading
🇺🇸 Slash raises $100M to disrupt business banking. Slash raised $100M in Series C funding to expand its AI-powered business banking platform and compete with players like Ramp and Brex. The company aims to modernize financial services for businesses, leveraging automation to streamline processes and support global growth.
M&A
🇺🇸 American Express agreed to acquire Hyper to strengthen its AI capabilities and expense management offering. Hyper’s team and agentic tools will support automation and help businesses streamline operations across Amex’s commercial services platform. The acquisition is expected to close within the second quarter of 2026, subject to closing conditions.
🇺🇸 Payward agreed to acquire Bitnomial for up to $550M in cash and stock, gaining a fully licensed U.S. derivatives stack. The deal adds brokerage, clearing, and exchange capabilities, accelerating expansion in regulated markets and strengthening its multi-asset trading strategy.
MOVERS AND SHAKERS
🇮🇳 CredAble appoints Ashutosh Taparia as CEO of its FinTech business, as it scales its AI-led working capital platform and global expansion. Taparia, previously COO, will focus on execution, growth, and expanding operations across key international markets.
🇬🇧 JPMorgan hires Kunal Malani from Monzo to lead its Chase UK digital bank. The move supports its retail expansion in the UK, where Chase has grown rapidly since its 2021 launch, surpassing 2 million customers. Continue reading
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