Slice is in discussions to raise between $50 million and $100 million in fresh funding, but at a lower valuation than its previous rounds, signalling a strategic reset as the company pivots deeper into digital banking.
The Bengaluru-based fintech, which transitioned into a small finance bank following its merger with North East Small Finance Bank in 2024, is now positioning itself as a full-stack digital bank. The proposed fundraise is expected to support this shift, with a focus on strengthening its UPI-led credit offerings, deposits business, and overall banking infrastructure.
According to reports, investors in the ongoing round include firms such as Accel, Elevation Capital, and Peak XV Partners, among others. While the talks are still underway and the final size of the round may vary, the valuation reset reflects broader pressures in the fintech funding landscape, where profitability and sustainable unit economics have become key priorities for investors.
The move marks a notable shift for Slice, which was last valued at over $1.5 billion during the peak of the funding cycle. The company is now recalibrating its expectations in line with current market conditions, where several fintech startups are raising capital at reduced valuations amid tighter liquidity and regulatory changes.
