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Indian fintech company Slice raised $220 million in a Series B funding round in November 2021, and contemporaneous reports put its post-round valuation above $1 billion. That made Slice a unicorn by the commonly used private-company valuation threshold—but the figure describes the 2021 financing, not the company’s current valuation.
How much funding did Slice raise?
Slice raised $220 million in a Series B round, according to TechCrunch’s November 28, 2021 report and Reuters’ November 29, 2021 report. TechCrunch noted that Slice had been valued below $200 million in a financing round in June 2021.
Who invested in Slice?
Tiger Global and Insight Partners co-led the Series B. TechCrunch also named Advent International’s Sunley House Capital, Moore Strategic Ventures, and Anfa, along with existing investors Gunosy, Blume Ventures, and 8i. Reuters confirmed participation by Sunley House Capital, Moore Strategic Ventures, Gunosy, and Blume Ventures.
What was Slice’s valuation after the funding?
TechCrunch and Reuters both reported that Slice’s valuation after the round exceeded $1 billion. The unicorn label refers to that reported private-company valuation in 2021; it is not a public-market price or an indication of Slice’s valuation today.
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A later milestone does not update that valuation: Business Standard reported in 2022 that Slice raised $50 million as part of a larger Series C. That funding report does not establish a current company valuation.
What did Slice do at the time?
Reuters described Slice as a fintech company offering a credit card aimed at young people in India, with digital signup and applications through its app. It reported that customers could split a bill into three interest-free monthly instalments. Those details describe the product as reported in 2021, not necessarily current product terms.
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Reuters also reported that Slice had 5 million registered users at the time, citing founder and CEO Rajan Bajaj. That is a period-specific company figure, not a current user count. TechCrunch characterized Slice’s customers as tech-savvy young professionals and reported that the company used its own underwriting system.
Slice’s official press page currently describes the company as a payment app and identifies the entity as slice small finance bank ltd. That wording alone does not establish a current valuation, operating metrics, or the availability and terms of every product.
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How Slice said it would use the money
Bajaj told Reuters: “A large part of the capital will not be used for burning but it’ll be used for scaling (up).” Reuters reported that he described plans to hire in engineering, design, and data science and add consumer products. TechCrunch also reported plans to expand product offerings. These were stated intentions at the time of the raise, not confirmation that each plan was later completed.
TechCrunch quoted Tiger Global partner Alex Cook saying: “Slice has built a product that customers love, which we expect will result in continued growth and market share gains.” This was an investor’s assessment, not an independently measured finding.
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