Slice raises $50 Mn in a new round led by Tiger Global

Slice, a fintech business, announced on Wednesday that it has secured $50 million in a larger series C round led by Tiger Global, which it will use to expand its new unified payments interface (UPI) platform.

Moore Strategic Ventures and Insight Partners, as well as a new investor, GMO VenturePartners, participated in the newest investment round.

Slice, founded by Rajan Bajaj, is a physical and virtual card for students and salaried professionals that allows them to buy collateral-free products and services online on EMI via an app and helps them develop credit scores.

Although the company claims to have 12 million registered users, the number of genuine cardholders is unknown. According to sources, it handles Rs 2,000 crore ($265 million) in gross transaction value (GTV) on a monthly basis and has an average revenue run rate (ARR) of $100 million. Since FY21, the company has yet to file consolidated annual financial statements.

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