FinTech startup Slice raises INR 390 million in debt funding

By Edil Corneille

Bengaluru-based FinTech Slice, a payments and credit start-up exclusively for youngsters, has received INR 390 million in debt funding from financial institutions like Vivriti Capital Private Limited, Northern Arc Capital Limited, InCred Financial Services Limited, Growth Source Financial Technologies Pvt. Ltd, Ashv Finance Limited and others. Raised by Quadrillion, a non-banking financial company (NBFC) and a wholly-owned subsidiary of Slice, the company will use this fresh fund infusion to grow its book and widen the reach of its credit solutions to youngsters across the India.

Rajan Bajaj, Founder & CEO, Slice said, “It’s been a great moment for us to have such established financial institutions show this kind of commitment and solidarity with our vision. This capital will help us refuel our books and support the unmet financial needs of young Indians who form the social and economic fabric of our country. We want to be the first card for millions of millennials and gen z in India and deliver a truly VIP customer experience to them. We are confident that our relationship with these institutions will help us collectively work towards empowering the next generation in taking a well-informed step into financial freedom.”

Slice has processed a transaction volume of INR 11 billion to more than 260,000 youngsters since its inception. With over 500,000 customers on the waitlist, the company aims to become the card of choice for young India.

Founded in 2016, the company has designed a card that is said to be an alternative to traditional credit cards. Slice is backed by VCs such as Gunosy Capital, Das Capital, Finup, Blume Ventures India, Simile Venture Partner, EMVC, Tracxn Labs, Better Capital, Sachin Bansal’s Navi alongside angel investors such as Kunal Shah. The focus of Slice is on assisting its customers through their financial journey through innovative and customised solutions as well as through a complete VIP customer experience.