Fintech startup Slice (formerly known as SlicePay) has raised Rs 39 crore in debt funding from multiple financial institutions.

A few of these financial institutions include Vivriti Capital Private Limited, Growth Source Financial Technologies Pvt Ltd, Northern Arc Capital Limited, InCred Financial Services Limited, and Ashv Finance Limited.

As per the startup, it will use the funding amount to grow its book and widen the reach of their credit solutions to youngsters across the country.

Founded in 2016 by Rajan Bajaj, Slice is a Bengaluru-based payment, and credit startup focused on young India. Slice is building a smart, simple, and transparent financial platform to redesign the life experience for millennials.

Talking about the funding, Rajan Bajaj (Founder and CEO of Slice) said,

“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.”

The fintech startup claims to have processed a transaction volume of Rs 1,100 crore to more than 260,000 youngsters since inception.

Slice has also built a one-of-a-kind data-driven financial product – the Slice Card.

Slice Card is a physical and virtual card, designed exclusively for young customers in India, including college students, freelancers, and salaried professionals.
As of March 2020, the startup has been issuing Slice Cards at an annual run-rate of over four lakh new users and has an NPS of over 70.

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