The CEO and founder of Bengaluru-based financial unicorn Slice, Rajan Bajaj, has raised Rs 71.7 crore (about $8.6 million).
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The company’s regulatory filing with the Registrar of Companies disclosed that the funding is provided by partially paid-up shares. In order to issue 22,000 equity shares at a cost of Rs 32,606 per, the Slice board issued a special resolution.
In order to support Slice’s growth and operational objectives, the investment will be made in one or more tranches with a general corporate purpose in mind.
Slice, a loan and payments company founded by Rajan Bajaj, offers physical and virtual cards to millennials.
The firm lets students and paid professionals buy online without collateral and pay using EMIs. This simplifies purchases and boosts credit scores. It has become a major consumer loan and payments business, targeting younger consumers.
About Slice
Slice is a unicorn in loans and payments that offers both virtual and physical cards, focussing mostly on millennials.
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