India’s Fintech Firm Slice Is India’s New Unicorn

India’s Fintech firm Slice is India’s new unicorn

Bengaluru, Nov 29, : Fintech firm Slice announced Monday that it has become India’s new unicorn after raising $220 million in Series B funding.This puts Slice’s valuation at more than $1 billion.
The round was led and managed by Tiger Global and Insight Partners, a New York-based global venture capital and private equity firm.

 India’s Fintech Firm Slice Is India’s New Unicorn-TeluguStop.com

Slice (Written as slice), is a credit card that challenges you to pay your bills, manage your expenses, and unlock rewards.

Rajan Bajaj, CEO and Founder of the company, stated that “We’ve kept ourselves down in the initial years” and that they have focused on simplifying the consumer journey as well as creating a cutting-edge underwriting system.

The round also included existing and new investors, including Advent International’s Sunley House Capital and Moore Strategic Ventures.8i was also present.

Slice users can sign up in just seconds and receive a virtual card as well as a physical card delivered straight to their home.

They also get up to 2 percent cashback for every transaction.

Slice, which ships over 200,000 cards per month, recently opened its doors to the new-to credit population.

The card has a limit of Rs 22,000 and can be used to start their financial journey.

Alex Cook, Partner at Tiger Global, stated that Slice has created a product that customers love.

This will lead to continued growth and market share gains.

Slice stated that it now has over 5 million registered users and a 40% month-on-month growth rate, accompanied by industry-leading risk metrics.

Nearly 38 Indian startups made it onto the unicorn list this year.They raised more than $32 million (till October).

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Disclaimer : TeluguStop.com Editorial Team not involved in creation of this article & holds no responsibility for its content..This Article is Provided by IANS, Please contact IANS if any issues in Article .


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