Slice in talks with Tiger Global for $100M investment round
American Investment firm Tiger Global is reportedly in “advanced stage of talks” with Slice to lead an investment round of over $100 million. As per a TechCrunch article, other firms, including Insight Partners and Ribbit Capitals are also engaging with the startup. Tiger Global has reportedly backed over twenty startups in India including Unacademy, CRED and Zomato.
The Bangalore based fintech startup Slice aims to expand the credit card market in India. Historically, the market has been left relatively untapped due to a lack of eligibility and interest of the general populace. Last month, the company launched a credit card with Rs. 2000 as the default limit to engage with the country’s market of 200 million people.
The company raised $30 million in its previous rounds of equity financing. It was valued at just under $200 million in a round this year. It is backed by Blume Ventures, Gunos Capital, and Better Capital, among others.
Slice has reportedly issued 1,10,000 cards in the last month, and has more than 3 million registered users with a mean age of 27.
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