slice, a new-age credit & payment startup on Monday said that it has raised a cumulative debt of Rs 165 crores in pandemic-struck FY21 from 18 leading financial institutions.
This includes Northern Arc Capital Limited, Vivriti Capital Private Limited, AU Small Finance Bank, Incred Financial Services Limited, Pace Fincap Private Limited, Western Capital Advisors Pvt Ltd, and Innoven Capital India Pvt Ltd among others. Out of this, the company raised INR 126 crores in just the last 5 months of FY21.
Catering to India’s youth, slice has over 300,000 members & 900,000 on the waitlist today, 70% of them being young working professionals. The company has processed a transaction volume of over $250 mn and plans to achieve a GTV run rate of $1 bn in FY22. With this, slice also plans to grow its member base by more than 3x to 1 mn in the next 12 months.
Commenting on this, Rajan Bajaj, Founder & CEO, slice, said, “Last year was volatile, which makes it even more empowering for us to have such strong financial institutions show solidarity with our vision. The number of institutions investing in us has grown significantly in FY21 alone, a validation of our strategy of keeping the lowest NPAs in the industry.”
He added, “Our priority right now is to support the country in every way possible as we all collectively fight the second wave. We have all learned several lessons from the pandemic last year which will help us put our best foot forward & cater to our members’ needs adeptly. Customer centricity and business agility are more important in today’s times than ever before.”
