New-age credit and payments startup slice has raised a cumulative debt of Rs1.65 billion from 18 financial institutions in spite of the pandemic situation prevailing in the country. The institutions include Northern Arc Capital, Vivriti Capital, AU Small Finance Bank, Incred Financial Services, Pace Fincap, Western Capital Advisors, and Innoven Capital. Out of this, the company raised Rs1.26 billion in just the last 5 months of FY21. slice has over 300,000 members and 900,000 on waitlist, 70% of them being young working professionals. The company has processed a transaction volume of over $250 million and plans to achieve a GTV run rate of $1 billion in FY22. With this, the company also plans to grow its member base by more than 3x to 1 million in the next 12 months. Rajan Bajaj, Founder & CEO, slice, said the number of institutions investing in the company has grown significantly in FY21 alone, a validation of its strategy of keeping the lowest NPAs in the industry.
