Slice secures Rs 46 crore in a pre-series B round led by Gunosy Capital
This round of funding will help Slice double its management team, explore banking partnerships to launch co-branded prepaid cards and credit cards. Slice would double the strength of its management team, explore banking partnerships to launch co-branded prepaid cards and credit cards and aim for more than 5 lakh users by the end of the current
"We are inventing the future of finance for young Indians, who want to understand and relate to financial products just like they would with Snapchat and Instagram," CEO Rajan Bajaj said.
Last year, Slice developed more features such as expense tracking, bill conversion to EMI, partial repayments and scratch cards to reward the users for timely repayments.
Founded in 2016, Slice offers a pre-approved credit product targeted at students. The app is built on the premise that students and millennials are the biggest consumers of delivery apps, online shopping, travel and entertainment but may not always have cash-in-hand to buy something of their choice immediately.
"As a young team, we understand this consumer very well and in the last four years, our primary focus has been making youngsters' financial experience fun and seamless. As we accelerate towards our next phase of growth, support from new investors like Gunosy, EMVC, Better Capital and Kunal will be absolutely critical and will enable us in the mission of becoming the go-to fintech destination of Young India," said Bajaj.