Bengaluru based slice becomes New Entrant in the List of Unicorns Post $220 Million Funding Round
- ByTejika Bajaj | November 29, 2021
The Bengaluru based fintech startup slice has recently announced that it raised an aggregate amount of $220 million in its Series B round of funding. The round was led by Tiger Global and Insights Partner.
The Series B round also saw participation from new and existing investors like Advent International’s Sunley House Capital, Moore Strategic Ventures, Anfa, Gunosy, Blume Ventures, 8i along with notable startup billionaires Binny Bansal (co-founder, Flipkart) and Guillaume Pousaz (founder and CEO, Checkout).
With this round of funding, slice becomes a new entrant into the list of unicorns with a post money valuation of $ 1.2 billion. Slice would be the 40th unicorn in a year when the startup market has seen a boom of investment. This announcement comes just a week after three notable startups namely NoBroker, Spinny and Upstox turned unicorn.
The company officials have revealed that the recently infused funds would be utilized by the firm for onboarding users, hiring fresh talent and building new products. Till date the startup has raised $250 million in equity financing.
Talking about the startup and its core ideology, the CEO of slice, Rajan Bajaj said, “The idea was never to burn capital and acquire users forcefully, but to set up a sustainable and robust business. We’ve kept our heads down in the initial years and focussed solely on simplifying the consumer journey and creating a cutting-edge risk underwriting system.”
Founded by Rajan Bajaj and Siva Kumar Tangudu, slice is an online platform which provides physical and virtual cards for students and young salaried professionals with a 2% cashback on every transaction. The Bengaluru based startup claims to have a user base of 5 million and aims to increase the same to 150 million users over the next 5-7 years.
Follow Startup Story
Related Posts
