Fintech unicorn Slice raises $50 mn funding led by Tiger Global, others

With its core credit product set to become profitable in the months ahead, Slice will use the new capital to shore up its balance sheet and support expansion of its new UPI product

Fintech unicorn Slice has raised $50 million as part of its larger series C round led by Tiger Global, along with participation from its existing investors -Moore Strategic Ventures and Insight Partners, and a new investor - GMO VenturePartners.

With its core credit product set to achieve profitability in the coming months, Slice will be utilizing this new capital to shore up the balance sheet to support the expansion of its new UPI product.

“With the significant growth in wallet share of slice card, it became increasingly clear that our customers would love to use slice for all their payment needs,” said Rajan Bajaj, Founder-CEO, slice. “Driving on that, we made our next important product launch with UPI which has been gaining strong early traction.”

In November 2021, slice became a unicorn or a startup with over $1 billion valuation after raising $220 million in its Series-B fundraise co-led by Tiger Global and Insight Partners. With over 12 million registered users currently, the company is building the best payment experience in India with its slice super card and its latest launch of UPI to the app.

"slice is leading the way for innovation, customer experience, and growth in India’s rapidly developing payments market,” said Alex Cook, Partner, Tiger Global. “We are delighted to continue our partnership with Rajan and his team as they improve and expand payment products with the goal of making money more relatable for the consumer.”