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Home ยป Fintech unicorn Slice to raise over $36M in convertible debt
Startup News

Fintech unicorn Slice to raise over $36M in convertible debt

2 Mins Read
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Unicorn Fintech slice is reportedly preparing to raise Rs 300 crore (around $36 million) through convertible bonds debt.

According to a report by Entrackr, several key investors including Taneja Family Trust, Anju Family Personal Trust, UK2 Family Trust and MN Family Trust will co-lead the debt.

The report said each of these trusts invested Rs 30 crore, adding that Blume Ventures and 8i Ventures invested Rs 27 crore and Rs 25 crore respectively.

Participation of other key investors

In addition to major investments from family trusts and venture capital firms, several other investors also joined the round.

These include Inland Financial Services, Mintcap Enterprises, Stargazer Ventures, Roger Bravo Advisors and Broadbridge Capital Management.

A number of individual investors such as Krishna Kumar Karwa, Aditya Jadhav, Aryaman Jadhav, Zahir Merchant, Shikha Begwani, Nilesh Mahendra Popat, Khyati Vyas and Simran Jhaveri also participated in the debt funding round. A total of 17 individual investors contributed to the funding.

Slice’s Offers

Founded by Rajan BajajSlice is a lending and payments unicorn that offers physical and virtual cards, catering primarily to millennials.

The startup allows students and salaried professionals to purchase products and services online without the need for collateral. Users can repay their purchases through estimated monthly installments (EMIs) via the Slice app.

Additionally, it helps its users improve their credit score, making the service attractive to young professionals looking to establish financial independence.

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Support from leading investors

So far, the tranche has raised over $378 million in funding from investors including Stride Ventures, Neo Asset Management and Tiger Global, among others.

In November 2021, the Bengaluru-based startup became 41st Indian unicorn startup after raising $220 million in a funding round at a valuation of over $1 billion.

Despite a significant fundraise, Slice continues to face challenges in achieving profitability. For FY23, the fintech startup reported a sharp increase in its losses, which soared 59.8% to Rs 406 crore from Rs 254 crore in the previous year.

However, it managed to maintain its revenue growth, which reached Rs 847 crore during the same period.

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Reasons Dogecoin is not a good payment option for fintech startups

September 16, 2025

Payhawk enhances AI finance orchestration with an updated version

September 16, 2025

FinTUP Fintech Pelocal secures $5 million in funding from Unleash Capital Partners, Unicorn India Ventures, and individual investors.

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