Funding Alert

Payments And Credit Startup, Slice Raises $20M From Gunosy And Blume Ventures

• ByStartupStory     |    June 28, 2021

Payments and credit startup, slice raises $20M the company announced on Monday. Existing investors Gunosy and Blume Ventures, among others, participated in the fundraising. Slice raises amount to compete against the credit card industry in India. Bengaluru-based company also launched two features including slice rewards and slice in 3.

Rajan Bajaj, Founder and CEO, slice, said regarding slice raises $20M, “The banking industry in India has always viewed credit cards as a loan product rather than a high-frequency payment instrument. Therefore, banks’ main focus is to optimise the fees related to credit cards, and there are portfolio teams to increase the loan book. This leaves the customer experience in the corner. However, we see it as a payments product, and we are solving it as a consumer experience problem with a customer-first approach in mind.”

“slice’s biggest advantage is how well they understand Millennials and Gen Z. Their approach to solving their issues has been truly refreshing and building something simple and hassle-free has been a part of their DNA since inception. The slice super card has the potential to fundamentally change the way the next generation thinks about the concept of credit cards altogether, and we, at Gunosy, are glad to be a part of their growth story,” said Shinji Kimura, Chairman and CEO, Gunosy Inc, regarding developments.

Follow Startup Story