Startup Slice has raised $20M from Gunosy, Blume Ventures

Slice in the past SlicePay on Monday said it raised $20 million to go up against the charge card industry in India. Existing financial backers Gunosy and Blume Ventures, among others, taken part in the gathering pledges.

In addition, the Bengaluru-based installments and credit startup likewise dispatched two highlights today:

1. slice rewards, where individuals can get up to 2 percent compensations on each card exchange and are right away redeemable to cash.

2. slice in 3, where individuals can slice their card bills more than 90 days for nothing, which implies they can get as long as 90 days of a sans interest period — the longest in the business.

Remarking on the new turns of events, Rajan Bajaj, Founder and CEO, slice, said,

The financial business in India has consistently seen Visas as an advance item instead of a high-recurrence installment instrument. Along these lines, banks’ primary center is to streamline the charges identified with Visas, and there are portfolio groups to build the advance book. This leaves the client experience in the corner. Be that as it may, we consider it’s anything but an installments item, and we are tackling it’s anything but a purchaser experience issue in view of a client first methodology.”

“It has straightforwardly brought about our client obtaining cost being multiple times lower than banks, which turns into an incredible upper hand. We are, accordingly, ready to give the advantages to our clients through these game-evolving contributions,” he added.

Since the dispatch of its card in 2019, slice professes to have more than 3,000,000 enlisted clients, developing reliably at 25% month-on-month.

The slice super card — which accompanies no secret charges, joining expenses, or yearly expenses — is acknowledged at 99.95 percent of traders across India that acknowledges Visa. With these new turns of events, slice intends to assume on the praise card industry, the startup claims.

Shinji Kimura, Chairman and CEO, Gunosy Inc, said,

“slice’s greatest benefit is the manner by which well they comprehend Millennials and Gen Z. Their way to deal with settling their issues has been genuinely invigorating and constructing something basic and bother free has been a piece of their DNA since origin. The slice super card can possibly generally change the route the cutting edge contemplates the idea of Visas out and out, and we, at Gunosy, are happy to be a piece of their development story.”