By 
Slice, a fintech startup which offers card-based products to young Indians to help them build a better credit score, has raised $6 million in a funding round led by Japanese VC Gunosy.
Slice says it intends to use the capital to double its management team, explore banking partnerships to launch co-branded prepaid cards and credit cards and to reach over 500,000 users by the end of FY21.
The slice card is a pre-paid virtual and physical card that comes with a pre-approved credit line and an expense-tracking app.
The firm, which has a presence in 18 cities across India catering to freelancers, college students, and salaried professionals, has racked up 250,000 users.
Talking about the investment in slice, Yuki Maniwa, Director of Gunosy says: “We believe slice has a sustainable advantage as it has decoded young credit users’ demands and has built a deep understanding of credit risk and low-cost distribution using technology. We are happy to work closely with slice as they continue to transform the credit landscape in India”.
Comments