MSME-focused digital lenders are increasingly gaining traction as banks slow down on unsecured consumer loans. This and more in todays ETtech Morning Dispatch.
Garagepreneurs Internet, which operates the brand Slice, will merge with its in-house non-banking finance company Quadrillion Finance and the combined entity along with the banks microfinance entity, RGVN Microfinance will merge with NESFB.
Among its major cost items, Slice reported a massive jump in employee costs as the startup expanded its strength significantly in the last fiscal. Its employee costs for FY23 shot up to Rs 287 crore from around Rs 99 crore.