Total amount raised
$125 Millions
Latest funding date
Location
Title
Slice has successfully raised significant funding from prominent investors such as Tiger Global, Insight Partners, and Advent International. The platform offers a range of financial services, including UPI payments, prepaid accounts, and loan facilitation.
Keep reading to explore the intricacies of slice's fundraising journey and the investors backing this innovative platform.
What Is slice?
Founded in January 2016 by Deepak Malhotra and Rajan Bajaj, slice is a leading consumer payments and lending company based in Bangalore, Karnataka, India. The company aims to revolutionize banking in India by offering transparent and user-friendly financial services.
slice provides a range of products, including UPI payments, prepaid accounts, and loan facilitation. Their services are designed to eliminate fine print and confusing fees, ensuring a seamless experience for users.
With a workforce of 1001-5000 employees, slice continues to innovate in the fintech space, focusing on modernizing banking systems and enhancing consumer experience.
How Much Funding Has slice Raised?
- Seed Round
- Amount Raised: $4M
- Date: March 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop initial product offerings.
- Venture Round
- Amount Raised: $3M
- Date: July 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform.
- Series A
- Amount Raised: $15M
- Date: May 2017
- Lead Investors: Notable Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and increase market penetration.
- Series B
- Amount Raised: $20M
- Date: March 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and enter new markets.
- Series C
- Amount Raised: $43M
- Date: May 2020
- Lead Investors: Kohlberg Kravis Roberts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop technology and expand service offerings.
- Series D
- Amount Raised: $40M
- Date: April 2021
- Lead Investors: Cross Creek
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To solidify market position and prepare for future growth.
Total Amount Raised: $125M. Current Valuation: Not publicly disclosed.
Key Investors
- Tiger Global
- Details: Tiger Global is a global investment firm that focuses on private and public companies in the internet, software, consumer, and financial technology sectors. The firm has a strong track record of backing high-growth companies worldwide.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm that invests in growth-stage technology, software, and internet businesses. The firm aims to help companies scale and achieve long-term success.
- Investment Focus Areas: Technology, software, internet businesses.
- Notable Investments: Twitter, Shopify, Wix.
- Advent International
- Details: Advent International is one of the largest and most experienced global private equity investors. The firm focuses on buyouts and growth equity investments across various sectors.
- Investment Focus Areas: Business and financial services, healthcare, technology.
- Notable Investments: Lululemon, Five Below, Sovos.
- Blume Ventures
- Details: Blume Ventures is an early-stage venture fund that backs startups with funding and active support. The firm is known for its hands-on approach in helping startups grow.
- Investment Focus Areas: Early-stage startups.
- Notable Investments: Unacademy, Dunzo, HealthifyMe.
- Kohlberg Kravis Roberts (KKR)
- Details: KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, and credit. The firm is known for its strategic investments and operational expertise.
- Investment Focus Areas: Private equity, energy, infrastructure, real estate, credit.
- Notable Investments: First Data, GoDaddy, ByteDance.
What's Next for slice?
Slice is poised to capitalize on several significant opportunities. The recent merger with North East Small Finance Bank opens doors to a broader customer base and the ability to offer technology-driven financial services. Additionally, the expansion into buy-now-pay-later (BNPL) services and continued growth in prepaid accounts and UPI payments present substantial market potential. With a valuation of $1.3 billion and recent funding rounds, Slice is well-positioned to leverage these opportunities for further growth.
Future fundraising appears promising, with potential for additional equity or debt funding rounds. The trend of founders reinvesting in their startups, as seen with Rajan Bajaj's recent $8.5 million investment, suggests continued financial backing. However, challenges such as managing increased losses, competition from other fintech companies, and regulatory hurdles remain. Navigating these obstacles will be crucial for Slice as it aims to solidify its market position and expand its service offerings.
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