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- Slice Secures $30M Debt from Neo Asset Management
Slice Secures $30M Debt from Neo Asset Management
Fintech unicorn Slice has successfully raised substantial debt funding to support its ongoing growth and operational needs.
Funding Details: Slice has raised $20M (approx. INR 170 Cr) from Neo Asset Management’s Credit Opportunities Fund, part of a larger $30M (approx. INR 255 Cr) debt round. The remaining $10M is expected soon.
Purpose of Funds: The capital will be used for corporate purposes and working capital requirements, ensuring Slice has the resources needed to continue its expansion.
Background and Evolution: Founded in 2016 by Rajan Bajaj, Slice shifted from a BNPL model to offering UPI payments, consumer credit, and prepaid banking after regulatory changes in 2022.
Investor Support: Valued at $1.5B, Slice is backed by investors such as Tiger Global, Gunopsy Capital, Blume Ventures, Advent International’s Sunley House Capital, Moore Strategic Ventures, and Anfa.
Neo Asset Management’s Role: Neo Asset Management recently closed its first Special Credit Opportunities Fund, raising INR 2,575 Cr from HNIs and family offices, focusing on investing in non-triple-A rated, profitable companies.
This funding positions Slice to advance its growth and innovation in the fintech sector.