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Youth-focused payment cards unicorn Slice to raise Rs.200-Cr via NCDs

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Fintech unicorn Slice is to raise INR 200 crore by allotting Non-Convertible Debentures (NCDs) in one or more tranches. Slice is also proposing to cancel an “unsubscribed” Compulsorily Convertible Preference Shares (CCPS) offered to existing investor Moore Strategic Ventures, which had subscribed to 60 out of 61 offered CCPS. This comes three weeks after the fintech startup announced raising USD 50 million as part of its Series C round from Tiger Global Management, Moore Strategic Ventures, Insight Partners, and GMO VenturePartners. The startup will use the capital to support its new UPI product expansion. To date, Slice has raised USD 270 million in total funding. Slice offers credit and payment cards (in partnership with Visa and SBM Bank), targeting young consumers with limited to no credit history.