Slice, one of India’s largest payments and credit start-up exclusively for youngsters, has received INR 39 crores in debt funding from multiple financial institutions like Vivriti Capital Private Limited, Northern Arc Capital Limited, InCred Financial Services Limited, Growth Source Financial Technologies Pvt. Ltd, Ashv Finance Limited and others.
Raised by Quadrillion, a non-banking financial company (NBFC) and a wholly owned subsidiary of Slice, the company will use this fresh fund infusion to grow its book and widen the reach of their credit solutions to youngsters across the country.
Commenting on this, Rajan Bajaj, Founder & CEO, Slice, said, “It’s been a great moment for us to have such established financial institutions show this kind of commitment and solidarity with our vision. This capital will help us refuel our books and support the unmet financial needs of young Indians who form the social and economic fabric of our country. We want to be the first card for millions of millennials and gen z in India and deliver a truly VIP customer experience to them. We are confident that our relationship with these institutions will help us collectively work towards empowering the next generation is taking a well-informed step into financial freedom.”
Slice has processed a transaction volume of INR 1100 crore to more than 260,000 youngsters since inception. With over 500,000 customers on waitlist, Slice aims to become the card of choice for young India.