Fintech startup slice raised Rs 165 cr in debt in FY21
By IANS |
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Bengaluru, May 24 : Credit and payment startup slice on Monday said it raised a cumulative debt of Rs 165 crore in pandemic-hit financial year 2021 from 18 leading financial institutions.
Out of the total, the company raised Rs 126 crore in the last five months of FY21.
The financial institutions include Northern Arc Capital Limited, Vivriti Capital Private Limited, AU Small Finance Bank, Incred Financial Services Limited, Pace Fincap Private Limited, Western Capital Advisors Pvt Ltd, and Innoven Capital India Pvt Ltd among others, the fintech startup said in a statement.
Slice, a credit and payment startup mainly catering to young professionals, has raised a cumulative debt of Rs 165 crore from 18 top financial institutions. This includes Northern Arc Capital Limited, Vivriti Capital Private Limited, AU Small Finance Bank, Incred Financial Services Limited, Pace Fincap Private Limited, Western Capital Advisors, and Innoven Capital India. Of this, the company raised Rs 126 crore in just the past five months of FY21. “Last year was volatile, which makes it even more empowering for us to have such strong financial institutions show solidarity with our vision,” said Rajan Bajaj, founder and CEO of Slice. “The number of institutions investing in us has grown significantly in FY21 alone.”
Slice raises ₹165 crore in debt in FY 21
May 24, 2021
The company has processed a transaction volume of over $250 million slice, a new-age credit and payment start-up, has raised a cumulative debt of ₹165 crore in pandemic-struck FY21 from 18 leading financial institutions. This includes Northern Arc Capital Limited, Vivriti Capital Private Limited, AU Small Finance Bank, Incred Financial Services Limited, Pace Fincap Private Limited, Western Capital Advisors Pvt Ltd, and Innoven Capital India Pvt Ltd among others. Out of this, the company raised ₹126 crores in the last five months of FY21.
Catering to India’s youth, slice has over 3,00,000 members and 9,00,000 on waitlist today, 70 per cent of them being young working professionals. The company has processed a transaction volume of over $250 million and plans to achieve a GTV (Gross Transaction Value) run rate of $1 billion FY22. With this, slice also plans to grow its member base by more than 3X to 1 million in 12 mon