Slice raises $6.07mn from Japans Gunosy Capital, others

Slice will use the funds to double its management team and explore banking partnerships to launch co-branded prepaid cards and credit cards.

Fintech start-up Slice raised $6.07 million in a pre-series B round of funding led by Japanese investor Gunosy Capital. US based EMVC, Cred founder Kunal Shah, Better Capital and Das Capital also participated in the round.

The Bengaluru based start-up will use the funds to double its management team and explore banking partnerships to launch co-branded prepaid cards and credit cards.

Rajan Bajaj, CEO, Slice, said: “We are inventing the future of finance for young Indians, who want to understand and relate to financial products just like they would with Snapchat and Instagram.”

Last year, Slice developed more features such as expense tracking, bill conversion to EMI, partial repayments, and scratch cards to reward the users for timely repayments.

Yuki Maniwa, Director, Gunosy, said in a statement, “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.”