{"id":5703,"date":"2021-11-29T10:36:14","date_gmt":"2021-11-29T05:06:14","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-slice\/"},"modified":"2021-11-29T12:03:22","modified_gmt":"2021-11-29T06:33:22","slug":"biz-slice","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-slice\/","title":{"rendered":"FinTech startup Slice raises $220 million, becomes India&#8217;s newest unicorn"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2775089154\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p><span style=\"font-weight: 400;\">FinTech startup slice has raised USD 220 million in a Series B round that values the company at over USD one billion, making it India\u2019s newest unicorn. The round was led by investors Tiger Global and New York-based global private equity and venture capital Insight Partners.<\/span><\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1742145614\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p><span style=\"font-weight: 400;\">New and existing investors including Advent International\u2019s Sunley House Capital, Moore Strategic Ventures, Anfa, Gunosy, Blume Ventures, and 8i also participated in the round, slice said in a statement on Monday.<\/span><\/p><p><span style=\"font-weight: 400;\">Earlier this year in June, Slice had raised $20 million as a part of a funding round led by existing investors Blume Ventures and Gunosy Capital.&nbsp;<\/span><\/p><p>F<span style=\"font-weight: 400;\">inTech startup<\/span> <span style=\"font-weight: 400;\">Slice offers a credit card targeted at India&#8217;s young people. Signing up and applying for the card is completely digital &#8211; via its app on Google&#8217;s Android play store and Apple&#8217;s app store. It is focused on new-age millennials and Gen Z, with an average age of 27, who are refused credit cards by large banks due to <a href=\"https:\/\/tradebrains.in\/credit-score\/\">inadequate credit scoring<\/a>.<\/span><\/p><div class=\"trade-content_5\" id=\"trade-3097846500\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p><span style=\"font-weight: 400;\">Even as most individuals in India have bank accounts and debit cards, only a sliver of this banking population has access to credit cards, which is less than 35 million according to industry estimates, it said.<\/span><\/p><p><span style=\"font-weight: 400;\">The statement said that the nation\u2019s young credit-rating system covers only a tiny fraction of this population, making it tediously challenging for them to own a credit card.<\/span><\/p><p><span style=\"font-weight: 400;\">\u201cslice is addressing this gap through its slice super card, a prepaid visa card with a credit line that allows hundreds of millions of Indians to enjoy credit card-like benefits as well as to build their credit score\u201d, the company said.<\/span><\/p><p><span style=\"font-weight: 400;\">\u201cUsers can sign up with slice in seconds, quickly get a virtual card (and get a physical card delivered to their home), and enjoy up to two per cent cashback on each transaction. slice has also made it easier and more convenient for users to pay their bills by letting them slice the bill into three months instalments at zero cost\u201d, it said.<\/span><\/p><p><span style=\"font-weight: 400;\">Founder &amp; CEO, slice, Rajan Bajaj, said, \u201cSince the inception of the company, we\u2019ve held a considerably different point of view from a typical start-up. The idea has never been to burn capital and acquire users forcefully, but to set up a sustainable and robust business\u201d.<\/span><\/p><p><span style=\"font-weight: 400;\">\u201cWe\u2019ve kept our heads down in the initial years and focused solely on simplifying the consumer journey and creating a cutting-edge risk underwriting system,\u201d he added.<\/span><\/p><div class=\"trade-content-10\" id=\"trade-1531164305\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p><span style=\"font-weight: 400;\">Slice plans to use proceeds from the latest fundraise to grow its existing lines of business, invest in newer products and also grow its engineering and design functions. The company will also use a portion of the fresh capital to fund its non-banking financial company (NBFC) arm and scale its loan book.<\/span><\/p><p><span style=\"font-weight: 400;\">Along with that, FinTech startup<\/span> <span style=\"font-weight: 400;\">Slice, which has about 600 employees, will also use the new funds to step up hiring for skilled professionals from engineering, design and data science.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Slice is the 41st Indian startup to achieve unicorn status this year. A unicorn is a privately-held startup with a valuation of $1 billion or more.<\/span><\/p><div class=\"trade-after-content\" id=\"trade-163446317\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>FinTech startup slice has raised USD 220 million in a Series B round that values the company at over USD one billion, making it India\u2019s newest unicorn. The round was led by investors Tiger Global and New York-based global private equity and venture capital Insight Partners. New and existing investors including Advent International\u2019s Sunley House [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":5717,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1513,31],"tags":[1726,1730,1728,1729,1724,1725],"class_list":["post-5703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-editor-pick","category-news","tag-how-does-slice-fintech-make-money","tag-slice-card","tag-slice-pay","tag-sliceit","tag-what-does-slice-startup-do","tag-what-is-slice-supercard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FinTech startup Slice raises $220 million, becomes India&#039;s newest unicorn<\/title>\n<meta name=\"description\" content=\"FinTech 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