M&A

M&A

Fintech unicorn Slice to merge with North East Small Finance Bank

Economic Times  

Bengaluru-based fintech unicorn Slice has merged with Guwahati-based North East Small Finance Bank (NESFB). Previously, Slice had acquired a 5% stake in NESFB for USD 3.42 million (INR 28 crore). Post deal, Slice, its investors, and founder Rajan Bajaj together will hold a stake in the combined entity. NESFB reported INR 335 crore in revenue in FY23 showing a marginal growth of over 2% over FY22. Its loss, however, widened to INR 288 crore from about INR 76 crore.

From the Venture Intelligence PE-VC Deal Database: Slice had raised over USD 345 M from Tiger Global, Insight Partners, Moore Strategic Ventures, GMO Venture Partners, Gunosy, Blume Ventures, Simile Venture Partners, Das Capital, Others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)