Consumer lending and payments startup Slice has successfully raised ₹71.7 crore (approximately $8.6 million) from its founder and CEO » , Rajan Bajaj » , through the issuance of partly paid-up shares. This investment comes shortly after the company secured ₹300 crore in debt funding via convertible debentures, co-led by notable investors including the Taneja Family Trust, Anju Family Personal Trust, UK2 Family Trust, and MN Family Trust.
In a regulatory filing with the Registrar of Companies » , Slice announced that its board approved the issuance of 22,000 equity shares at an issue price of ₹32,606 each. This strategic move underscores the company’s commitment to attracting investment while enhancing its capital structure.
Bajaj’s investment will be executed in one or more tranches and is designated for general business purposes, signaling confidence in Slice’s growth potential and operational strategies. The funding will support Slice’s mission to expand its offerings and improve its services.
Slice has carved a niche by providing millennials with both real and virtual cards, allowing them to build credit ratings while facilitating online purchases through collateral-free EMIs via its app. The startup has previously garnered attention with a $220 million Series B funding round led by Tiger Global and Insight Partners, bringing its total funding to nearly $400 million. Tiger Global remains the largest stakeholder, followed closely by Insight Partners, indicating strong backing from prominent investors. Read More »
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