Slice goes unicorn with a $ 220 million round led by Tiger and Insight Partners

Credit card platform Slice raised $ 220 million in its Series B round, jointly run by Tiger Global and Insight Partners. Existing Investors: Sunley House Capital from Advent International, Moore Strategic Ventures, Anfa, Gunosy, Blume Ventures and 8i also participated in the round.

The fresh funds are valued at over $ 1 billion, according to Slice.

The company joins 40 others who became unicorns in 2021. Last week, NoBroker, Spinny, and Upstox checked into the review club for over $ 1 billion.


The start-up billionaires Binny Bansal (co-founder of Flipkart) and Guillaume Pousaz (co-founder and CEO of Checkout) also took part in the Series B round.

The Bengaluru-based startup last raised $ 10 million in debt in July and $ 20 million in equity in June of this year. The fresh funds will be used for user onboarding, hiring and new product building, Slice said in a press release.

In partnership with Visa and SMB Bank, Slice offers physical and virtual cards for students and young employees that you can buy now and pay later [BNPL] Products. The company has refrained from sharing numbers beyond its registered user base of 5 million.

The five-year-old company claims to offer up to 2% cashback on every transaction and offers members the option to convert monthly bills into 3 installments with no additional fees. It targets 150 million users opt for credit cards or BNPL products in the next 5-7 years.

For the fiscal year ended March 31, 2021, Slice saw its operating revenue increase slightly to Rs 35.35 billion from Rs 29.88 billion in FY20. The company’s expenses also increased 34% to Rs 47.87 billion from Rs 35.72 billion in the previous fiscal year.


The company was close to breakeven in FY20 but suffered a loss of Rs.8.91 billion in the most recent fiscal year, i.e. FY21.

After supporting Tiger, Slice will seek aggressive customer acquisition and increase competition for competitors: KreditBee, OneCard and Uni. Unlike banks, Slice and these three players aim to tap into millennials who are normally ignored by bank-powered credit cards. While the scale of the opportunity seems great, the sector is likely to face regulatory hurdles sooner or later.

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