NEW DELHI: Fintech platform Slice on Wednesday said it has received Rs 39 crore in debt funding from multiple financial institutions including Vivriti Capital, Northern Arc Capital and InCred Financial Services.
Growth Source Financial Technologies, Ashv Finance and others also participated, a statement said.
Raised by Quadrillion, a non-banking financial company (NBFC) and a wholly owned subsidiary of Slice, the funds will be used to grow its book and widen the reach of credit solutions to youngsters across the country, the statement said.
"This capital will help us refuel our books and support the unmet financial needs of young Indians who form the social and economic fabric of our country.
We want to be the first card for millions of millennials and Gen Z in India and deliver a truly VIP customer experience to them," Slice founder and CEO Rajan Bajaj said.
Slice is a payments and credit start-up for young Indians.
Founded in 2016, Slice has designed a card that is an alternative to traditional credit cards, and has processed a transaction volume of Rs 1,100 crore to more than 260,000 youngsters since inception.
Slice is backed by firms such as Gunosy Capital, Das Capital, Finup, Blume Ventures India, Simile Venture Partner, EMVC, Tracxn Labs, Better Capital, Sachin Bansal's Navi alongwith angel investors like Kunal Shah.