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Card-based pay later fintech Slice raises 150 Crores

Card-based Pay Later startup Slice raises 150 Cr from existing investors like Gunosy, Blume Ventures, and others.

Slice in its official statement said that it will use the funding for product development and enhancing the features and adding new features available on the app.

Super Card what Slice calls it competes with traditional Indian credit cards.

Bangalore headquartered Slice's target audience is millennials and the card is made especially keeping the needs of youth in mind and their spending pattern.

Slice super card doesn't require a credit score which is the reason for the rapid success in the millenials.

Users can get No Cost EMI’s throughout the year on all products and brands from a variety of merchants like Amazon, Flipkart, Myntra, Jabong, Bigbasket, Pepperfry, Domino’s, Uber, Uber Eats, MakeMyTrip, Cleartrip, BookMyShow, Zivame, The Man Company and Nykaa with Slice.

Slice is founded by IIT Kharagpur alumni Rajan Bajaj who had previously managed products at Walmart owned Flipkart.

Rajan was joined by Deepak Malhotra a BITS Pilani alumni as a tech cofounder who moved on to start open banking API fintech "Brick" in Singapore.

Slice investors include biggies Kunal Shal, Better Capital, Gunosy, EMVC, and Das Capital to name a few.

Slice will compete with Sequoia-backed One Card , Bravo App and UNI Card in the B2C credit card space.