Slice, a fintech unicorn, has secured its first funding of Rs 75 crore or $9 million in debt from Stride Ventures in 2023. As per the regulatory filing, the company passed a special resolution to issue 7,500 non-convertible debentures at Rs 1,00,000 per share, raising the specified amount. These debentures, carrying an interest rate of 14.25% per annum, are non-convertible and have a tenure of 15 months, as decided during the allotment process, according to the Registrar of Companies.

Slice has potentially raised an additional $35 million or Rs 300 crore, as indicated by a separate regulatory filing. The recent merger announcement between Slice and North East Small Finance Bank (NESFB) aims to broaden their financial services accessibility. Earlier in March, Slice acquired a 5% stake in NESFB for approximately $3.42 million, valuing the small finance bank at about $68.4 million.

As of the Series C round in November 2021, Slice has amassed $340 million in funding and was valued at over $1.5 billion. According to data from TheKredible, Gunosy Capital holds the largest stake in the company at 14.84%, while the co-founder Rajan Bajaj possesses an 8.21% stake. The detailed shareholding pattern is available for review.

Although the company has not yet filed its FY23 figures, sources from Entrackr indicate substantial growth. Revenue reportedly increased nearly three times to around Rs 870 crore in FY23. Operating revenue witnessed a 4.18X surge from Rs 67.7 crore in FY21 to Rs 283.08 crore in FY22. However, Slice's losses also escalated by 2.52X, reaching Rs 253.67 crore in FY22.