Slice raises $100M at $450M valuation, betting on banking pivot
What's the deal? Indian fintech Slice has raised $100 million in a late-stage round led by Neo Wealth, with participation from Kado Global and Moore Strategic VenturesDealroom has a profile for this one. Try Dealroom →. The deal values the company at $450 million — a 68% drop from its previous $1.4 billion valuation.
Why the lower valuation? The reset reflects Slice's shift from a credit-card-led fintech to a licensed small finance bank. Investors are now valuing it on banking metrics, comparing it to lenders like HDFC BankDealroom has a profile for this one. Try Dealroom → and Nubank rather than pure-play fintechs.
The details: The round includes a secondary share sale by existing investors. Roughly $40 million came from Peak XV-backed Neo Wealth, which pooled capital from high-net-worth clients.
What's the endgame? Slice acquired North East Small Finance BankDealroom has a profile for this one. Try Dealroom → in 2023, expanding into deposits, digital lending, and MSME services. Deposits have doubled since the merger, positioning the company as a banking franchise rather than a lending app.
The signal: The raise ranks in the 94th percentile among Indian fintech late-stage rounds over the past four years, according to funding data. Even at a sharply lower valuation, the capital reflects a broader bet that regulated banking — not credit cards alone — is where India's fintech growth now lies.
Read more: one.news18.com
Image credit: Generated with Gemini
