Fintech start-up slice has raised Rs 75.5 crore in debt in the first quarter of this fiscal from multiple financial institutions, including Northern Arc Capital, Niyogin Fintech, Credit Saison India and Vivriti Capital.
Rajan Bajaj, Founder and CEO, slice, said, “The banking industry in India often views credit cards as a loan product instead of a high-frequency payment instrument. Their main focus is to optimise the fees and portfolios while overlooking the experience. However, we see slice card as a classic payment product, and we are solving it as a customer experience problem with a customer-centric approach in mind.”
Launched in 2019, slice card focuses on millennials and Gen Z. It has three million registered users and is accepted at 99.95 per cent of merchants across the country that accept Visa.