PE Fund Investments
Consumer lending platform Slice raises $36-M
Bengaluru-based consumer lending and payments startup Slice has raised INR 300 crore (USD 36 million) via convertible debt co-led by Taneja Family Trust, Anju Family Personal Trust, UK2 Family Trust, and MN Family Trust who have invested INR 30 crore each. Blume Ventures and 8i Ventures (via Eight Innovate Investment Trust) followed with INR 27 crore and INR 25 crore respectively. The round also saw participation from Inland Financial Services, Mintcap Enterprises, Stargazer Ventures, Roger Bravo Advisors, and Broadbridge Capital Management besides individuals such as Krishna Kumar Karwa, Aditya Jadhav, Aryaman Jadhav, Zahir Merchant, Shikha Begwani, Nilesh Mahendra Popat, Khyati Vyas, Simran Jhaveri and Kalpana Kiran Maniar.Slice will issue 30,000 compulsory convertible debentures (CCDs) at INR 100,000 each.Founded by Rajan Bajaj, Slice provides a physical and virtual card focused on millennials. It enables students and salaried professionals to buy collateral-free products and services online on estimated monthly instalments (EMIs) through an app and helps them build credit scores. It has reported revenues of INR 847 crore during FY23 as compared to INR 283 crore in FY22.
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