Fintech Startup slice (Formally often known as SlicePay) introduced a pre-series B funding of Rs. 46cr from a Japan-based investor Gunsoy.
“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. 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.”, Stated, Rajan Bajaj, Founder and CEO of slice.
Indian card market has multiplied for the final 5 years, with round 30million distinctive customers and 5million energetic new bank card customers. As per the SBI report, the proportion of bank card origination amongst millennial (individuals under 30 years of age) has elevated from 19.0% to 35.0% during the last 4 years.
“We believe slice has a sustainable advantage as it has decoded young credit users’ demands and has built a deep understanding of credit risk and low-cost distribution using technology. We are happy to work closely with slice as they continue to transform the credit landscape in India”, mentioned, Yuki Maniwa, Director of Gunosy.
Based in 2016 by Rajan Bajaj, the Bangalore primarily based startup, slice has constructed a data-driven monetary product – the slice card, a bodily and a digital card, designed completely for younger clients in India that features freelancers, school college students, and salaried professionals.
slice is at this time current throughout 18 cities in India together with Bangalore, Mumbai, Chennai and Delhi. It’s funded by Blume Ventures, Higher Capital, Traxcn Labs, China’s Finup, Singapore’s Das Capital and Japan’s Gunosy, Russia’s Simile Ventures, USA’s EMVC and entrepreneurs like Kunal Shah of Freecharge & CRED.
This spherical additionally noticed participation from US-based EMVC, Kunal Shah of CRED, Higher Capital and present investor Das Capital