Akshata Sharma
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Bengaluru-based slice has raised $20 Mn (about INR 170 Cr) in a debt funding round from Neo Asset Management's Credit Opportunities Fund
The funding is part of a larger $30 Mn (about INR 255 Cr) debt round. While the startup has received $20 Mn, it is expected to get the remaining amount soon. slice would utilise the funds for corporate purposes and working capital requirements.
The fundraise comes on the heels of Neo Asset Management closing the first Special Credit Opportunities Fund by raising INR 2,575 Cr from HNIs and family offices.
Founded in 2016 by Rajan Bajaj, slice (previously known as Slicepay) operated as a buy now pay later (BNPL) platform till 2022 and offered a credit card-esque prepaid payment instrument (PPI) that came with no annual fees, interest, or late charges.
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