Slice joined the Unicorn Club on Nov 29, 2021 after raising a $220 million Series B funding round, reaching a $1 billion valuation. Headquartered in Guwahati, Assam, India, Slice provides a digital platform offering banking and financial services, including savings accounts, fixed deposits, and digital account management.
The platform emphasizes security and fraud prevention while providing seamless customer support and account management for individual users.
Keep reading to learn how Slice became a leading unicorn in banking technology solutions.
What Is Slice and What Does It Do?
Founded in 2015, Slice is a banking technology platform that offers digital financial services including savings accounts, fixed deposits, and account management tools.
The platform focuses on secure, fraud protected digital banking experiences, leveraging industry best practices to provide seamless customer support and manage financial transactions efficiently.
How Much Funding Has Slice Raised?
1. Seed Round
- Amount Raised: $0.5 million
- Date: February 15, 2016
- Lead Investors: Blume Ventures
- Purpose: Early product development and initial launch
2. Series A Round
- Amount Raised: $14.9 million
- Date: September 3, 2018
- Lead Investors: FINUP
- Purpose: Product enhancement and expanding market reach
3. Series B Round
- Amount Raised: $220 million
- Date: November 29, 2021
- Valuation: $1 billion
- Lead Investors: Tiger Global Management, Insight Partners
- Purpose: Accelerate growth and expand financial services
4. Series C Round
- Amount Raised: $50 million
- Date: June 1, 2022
- Lead Investors: Tiger Global Management, Insight Partners, Moore Strategic Ventures, GMO VenturePartners
- Purpose: Expand product offerings including UPI payments and scale operations
5. Debt Funding Round 1
- Amount Raised: $9 million
- Date: November 14, 2023
- Lead Investors: Stride Ventures
- Purpose: Support working capital and growth initiatives
6. Debt Funding Round 2
- Amount Raised: $20 million
- Date: June 15, 2024
- Lead Investors: Neo Asset Management Credit Opportunities Fund
- Purpose: Additional financing for expansion and operational support
Total Funding Raised: $314.4 million Latest Funding Date: June 15, 2024 Latest Known Valuation: $1.8 billion Employee Count: 147 as of Oct 31, 2024
Key Investors
- Tiger Global Management
- Details: Global investment firm backing high growth technology companies
- Focus Areas: Fintech, consumer internet, and growth stage startups
- Insight Partners
- Details: Venture capital and growth equity firm supporting technology companies
- Focus Areas: Enterprise software, fintech, SaaS, and digital platforms
- 360 One
- Details: Investment firm focused on emerging technology startups
- Focus Areas: Banking tech, fintech innovation, and platform scaling
Where Is Slice’s Headquarters?
Slice is headquartered in Guwahati, Assam, India, serving as its central hub for product development, engineering, and operations.
What’s Next for Slice?
Slice plans to expand its digital banking services, enhance account management tools, and launch new financial products. The company is focused on strengthening security, improving user experience, and scaling operations to increase adoption across India.
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