Bengaluru: Fintech firm Slice on Monday introduced it has turn out to be India’s new unicorn with elevating $220 million in a Collection B spherical, that values it at over $1 billion.
The spherical was led by Tiger World and New York-based international non-public fairness and enterprise capital Perception Companions.
Slice (Written as slice) is a bank card challenger to pay payments, handle bills and unlock rewards.
“We’ve stored our heads down within the preliminary years and centered solely on simplifying the buyer journey and making a cutting-edge danger underwriting system,” mentioned Rajan Bajaj, Founder and CEO.
New and present traders together with Introduction Worldwide’s Sunley Home Capital, Moore Strategic Ventures, Anfa, Gunosy, Blume Ventures, and 8i additionally participated within the spherical.
Customers can enroll with Slice in seconds, shortly get a digital card (and get a bodily card delivered to their residence), and revel in as much as 2 per cent cashback on every transaction.
Slice, which is transport over 200,000 playing cards every month, not too long ago opened doorways to the new-to-credit inhabitants.
They will begin their monetary journey with the newly launched card with a restrict of Rs 2,000.
“Slice has constructed a product that prospects love, which we anticipate will lead to continued progress and market share positive aspects,” mentioned Alex Prepare dinner, Associate at Tiger World.
Slice mentioned it now has a registered person base of over 5 million and a 40 per cent month-on-month progress price accompanied by industry-leading danger metrics.
Almost 38 Indian startups have made it to the unicorn checklist this yr, elevating greater than $32 billion (until October).