Slice, formerly known as SlicePay has raised Rs 46 crore in pre-Series B funding round led by Japan-based investor Gunosy. US-based EMVC, Kunal Shah of CRED, Better Capital and existing investor, Das Capital also participated in the investment round.

“This round of funding will help slice double its management team, explore banking partnerships to launch co-branded prepaid cards and credit cards and have over 5 lakh users by the end of fiscal 2021,” the Fintech firm said in a statement.

Commenting upon the development. Rajan Bajaj, founder and CEO of slice stated,

“As a young team, we understand this consumer very well and in the last four years, our primary focus has been making youngsters’ financial experience fun and seamless. As we accelerate towards our next phase of growth, support from new investors like Gunosy, EMVC, Better Capital and Kunal will be absolutely critical and will enable us in the mission of becoming the go-to fintech destination of Young India.”

Slice was founded in 2016 with a data-driven financial product called ‘The Slice Card’ available in both physical and digital formats. The card was specifically designed to support the finances of freelancers, college students and salaried professionals. It has been issuing slice cards at an average run rate of 4 lakh new users annually as of March this year. The firm claims to have reached profitability within 4 years of its launch.

LEAVE A REPLY

Please enter your comment!
Please enter your name here