Fintech Startup Slice Raises $20 Million From Gunosy and Blume Ventures

By Nicholas Say Nicholas Say has been verified by Muck Rack's editorial team
Published on June 29, 2021

Slice, an India-based fintech startup aiming to disrupt financial services in the world’s fifth-biggest economy, has recently announced it raised $20 million at an undisclosed valuation.

The startup offers a credit card, which it calls a “super card”, that provides users with increased flexibility and benefits tailored to the needs of the millennial and Gen z generations. While the country has one of the biggest economies in the world, many Indians don’t have access to credit cards.

Slice approaches credit cards as a payment product instead of a loan product, which allows them to prioritize consumer experience problems first. The platform also provides a way for people in India to easily access financial services without having to deal with the bureaucracy of traditional banks.

Slice’s CEO and founder, Rajan Bajaj, referred to how this approach allows his startup to reach a wider audience by stating:

“Any small friction in product experience can lead to a magnitude of reduction in market size, which is what is happening in India today – we believe 400 million-plus Indians are eligible for a credit card, but we just have 30 million unique customers in the country.”

The funding received from Gunosy and Blume Ventures, two of the most important capital venture firms in the region, will be destined to diversify the startup’s offering and expand its existing team.

With the fintech industry growing around the world as trust in traditional financial institutions continues to decrease, Slice has raised a total of $30 million in equity funding since its foundation back in 2019.

With over three million registered users and a 25% monthly volume growth, the fintech startup is succeeding in changing the way the youngest generations in India think about credit cards while taking advantage of the increased digitization of most industries as a result of the COVID 19 pandemic.

By Nicholas Say Nicholas Say has been verified by Muck Rack's editorial team

Nicholas Ross Say is a news desk editor at Grit Daily. An award-winning journalist, he covers the daily startup beat. He grew up in Ann Arbor, Michigan and has lived in South America and South East Asia. At present, Nicholas lives in Southern Vietnam where the Sun shines, and the noodles flow like wine. He's written for Blockonomi and Coin Journal, among others.

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