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Slice Reviews

Bengaluru, Karnataka

4.0/ 5

2 reviews

slice (also known as slice Small Finance Bank) is a prominent Indian financial technology company headquartered in Bangalore, Karnataka. Founded in January 2016 by Rajan Bajaj, the company originally started operations under the name SlicePay, focusing heavily on providing buy now pay later (BNPL) services and micro-credit solutions tailored specifically for India's digitally savvy youth, millennials, and Gen Z consumers who were historically underserved by traditional banking institutions. Over its operational history, slice scaled rapidly by leveraging technology to streamline credit scoring, payment processing, and customer onboarding. The platform gained widespread recognition for its 'slice super cards'—prepaid and credit-like instruments powered by networks such as Visa and RuPay—which allowed users to manage spending, split bills, and access instant credit with transparent terms. To build a comprehensive financial ecosystem, the company integrated Unified Payments Interface (UPI) services into its mobile application, transitioning into a multi-featured payment and banking platform. A transformative milestone in the company’s trajectory occurred through its strategic merger with the North East Small Finance Bank (NESFB), which received regulatory approval from the Reserve Bank of India (RBI) and concluded in late 2024. This integration effectively transitioned slice from a fintech startup into a fully regulated banking entity. Operating as a small finance bank, slice has expanded its financial products to include standard banking solutions such as savings accounts, fixed deposits, commercial borrowing tools, and localized bank branches, alongside its core digital credit and UPI offerings. Financially, slice achieved unicorn status in November 2021 following a $220 million Series B funding round led by major global investors including Tiger Global and Insight Partners, pushing its valuation past $1 billion. Throughout its funding history, the company has raised over $408 million from a diverse group of domestic and international investors, such as Blume Ventures, Gunosy, and the Sony Innovation Fund. The company employs more than 2,100 people across its technical, operational, and banking divisions. Its business model relies on multiple revenue streams, including interest margins on customer loans, merchant interchange fees from card transactions, and banking service fees derived from its expanded repository of deposits. By combining its technological infrastructure with a formal banking license, slice aims to aggressively scale its customer acquisition, targeting the addition of hundreds of thousands of new users monthly while deeply penetrating India's consumer finance sector.