Funding · Financial Services

Slice raises $100 million at $450 million valuation

By Startup Enthusiast · 3 September 2026

What they do

Slice is a digital bank offering savings accounts, fixed deposits, credit products, and UPI-linked payments

The company raised $100 million in a round led by Neo Wealth, including primary and secondary transactions

The valuation of $450 million marks a significant decline from its previous $1.5 billion peak

Slice has secured $100 million in a new funding round led by Neo Wealth.
The round includes participation from Kado Global, Moore Strategic Ventures, and Raise Financial.
The transaction consists of both primary capital (new money for the company) and secondary sales (existing shareholders selling shares).
The company is now valued at approximately $450 million to $470 million.
This funding follows Slice's transition into a Small Finance Bank after merging with North East Small Finance Bank.

The current valuation represents a sharp 68-70% decline from its peak valuation of $1.5 billion.
Slice has recently turned profitable, reporting a net profit of Rs 48.4 crore in FY26.
The company is shifting its business model from a pure fintech lender to a regulated digital bank.

Slice operates as a full-stack bank providing savings accounts and fixed deposits.
It offers a UPI-linked credit card and various digital credit products for consumers.
The bank serves over 20 million registered users across India.
It leverages a network of over 160 physical branches alongside its digital platform.
The company focuses on providing financial access to digitally-savvy Indians overlooked by traditional lenders.

Customers: Individual consumers seeking credit products, wealth management and banking services
How it makes money: Digital-first lending and small finance bank operations with credit card and investment products
What sets it apart: Pivoted from fintech unicorn to regulated Small Finance Bank with RBI approval