Slice, a payments and credit start-up, has announced that it has secured Rs 75.5 crore in debt in the Q1FY22 from various financial institutions including Northern Arc Capital, Credit Saison India, Vivriti Capital, Niyogin Fintech Limited and others.
Speaking on the announcement, Rajan Bajaj, Founder and CEO, slice, commented, “The banking industry in India often views credit cards as a loan product instead of a high-frequency payment instrument. Therefore, banks’ main focus is to optimise the fees and portfolios while overlooking the experience. However, we see slice card as a classic payment product, and we are solving it as a customer experience problem with a customer-centric approach in mind.”
He added, “I’d have to say, it is like creating art to rebuild a classic payment product coupled with the new-age understanding of consumer experience. It requires great design, a great pool of talent, and in-depth insights into our consumer’s language which are our foundations. This fundraiser is a testament to the strength and success of slice’s products at scale, our strong fundamentals, and our high-value potential. We are thankful for the trust that our investors have placed in slice’s mission of making payments simple.”
Founded in 2016, slice is building financial products and services to meet the financial needs of gen z and millennials across the country.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.