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Slice raises $20 million to go after the credit card industry in India Slice, an Indian fintech startup that has built a “super card” for millennials in India, said on Monday it has raised $20 million in a new financing round and is adding new features to change how people engage with their credit cards. Existing investors Gunosy, Blume Ventures and others financed the new round in the Bangalore-headquartered startup, it said. Even as hundreds of millions of Indians today have a bank account, only about 30 million have a credit card. Most people in the South Asian market are not eligible to get a credit card, and even many of those who are don’t bother to get one because the experience of signing up is too clumsy, time consuming, and the rewards don’t make up for it. ....
Synopsis Fintech startup Slice, which offers customers flexibility in paying credit card bills and reward points on transactions, will use the fresh funding, to diversify offerings and expand its team, CEO Rajan Bajaj says. Mumbai: Fintech startup Slice has raised $20 million in equity funding from existing investors Gunosy and Blume Ventures at an undisclosed valuation. The credit card platform offers customers flexibility in paying credit card bills as well as reward points on transactions. Slice will use the capital to diversify offerings and expand its team, founder and chief executive Rajan Bajaj told ET. “The banking industry in India has always viewed credit cards as a loan product rather than a high frequency payment instrument,” said Bajaj. “Therefore, banks’ focus is to optimize the fees related to credit cards and there are portfolio teams to increase the loan book. This leaves customer experience in the corner. However, we see it as a payment p ....
Slice Slice, a fintech startup and creator of the âsuper cardâ, today announced that it has raised $20mn to challenge the credit card industry in India. It has raised this amount from existing investors Gunosy, Blume Ventures among others. In addition to this, Slice has also launched two game-changing features: Slice rewards - members can get up to 2 percent rewards on every card transaction which are instantly redeemable to cash; Slice in 3: members can slice their card bills over 3 months for free, which means they can get up to 90 days interest free period - the longest in the industry, the startup claimed. ....
Fintech startup slice raises $20 mn from Gunosy, Blume Ventures and others business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.