[Funding News] Slice Raises $30 Mn Debt Funding Round from Existing Investor

Slice, a startup specialising in consumer financing and payments, has secured Rs 65 crore (about $8 million) in debt funding from Neo Markets. This is the second debt investment for the Bengaluru-based company in the current year.

Slice's board has approved a special resolution to sell 650 non-convertible debentures (NCDs) at a price of Rs 10,00,000 apiece, with the goal of raising Rs 65 crore.

Slice offers both a physical and virtual card specifically designed for the millennial demographic. The software allows students and salaried professionals to purchase things and services online without needing collateral. They can pay for these items in monthly installments, known as estimated monthly installments (EMIs). Additionally, the app assists users in establishing credit scores.

Read also - 9Unicorns Executives Launch Rs 1,000 Cr VC Fund

Slice has accumulated a total of $340 million in funding and was appraised at a value above $1.5 billion during the Series C round in November 2021.

Slice and North East Small Finance Bank (NESFB) have announced their merger with the aim of enhancing their financial reach.

About Slice

Founded in 2016 by Rajan Bajaj, slice purpose is to make the world better at using money and time, with a major focus on providing the best consumer experience. We believe that the best product will always transcend customer demographics, like how great music touches most of us.

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.

Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.

Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.