 | |
| Company type | Private |
|---|---|
| Industry | Small finance bank Financial technology |
| Predecessors | Slice North East Small Finance Bank |
| Founded | January 2016 |
| Founder | Rajan Bajaj |
| Headquarters | |
Area served | India |
Key people | |
| Website | www |
Slice Small Finance Bank (doing business as slice) [3] [4] is an Indian small finance bank based in Bengaluru. It was formed as a result of the merger between fintech company Slice and North East Small Finance Bank (NESFB). [5]
Slice was founded in January 2016 as SlicePay, a fintech company offering buy now, pay later and credit lines for students and young professionals. [6] [7] [8] In January 2019, the company received a non-banking financial company (NBFC) license from the Reserve Bank of India (RBI). [9] Later that year, Slice launched its prepaid card in partnership with Visa and SBM Bank India. [10]
In November 2021, Slice became a unicorn company, after raising about $220 million. [11] By mid-2022, it was reportedly issuing over 300,000 prepaid cards per month, [12] [13] having positioned itself as a credit card challenger. [14] [15] However, after the RBI's June 2022 directive barring NBFC companies from issuing credit lines on prepaid payment instruments, the company discontinued prepaid cards to comply with the new norms. [16] [17]
North East Small Finance Bank (NESFB) was established in July 2016, and was one of the 10 financial institutions to be granted a small finance bank license by the RBI in 2015. [18] [19] [20]
In October 2023, Slice announced that it would merge with North East Small Finance Bank (NESFB), marking the first instance of a fintech company merging with a bank in India. [21] [22] [23] [24] The merger was completed in October 2024 after regulatory scrutiny. [25] [26] [27] [28] The merged entity was renamed as Slice Small Finance Bank in May 2025. [29] [30]
As of December 2024, Slice has raised $387 million in funding across multiple rounds from investors such as Tiger Global, Insight Partners, and Blume Ventures. [31]
