ISN Team03 Sep 2026
20:54IST
New Update
Slice Small Finance Bank has raised about $100 million (around Rs 950 crore) from investors in a funding round that values the business at roughly $450-$470 million, according to media reports.
The round includes investment from Indian wealth management platform Neo Wealth, Japan-based Kado Global and US-based Moore Strategic Ventures, an existing Slice investor.
According to a Moneycontrol report, Neo Wealth led the round and accounted for around $40 million of the investment, pooling capital from high-net-worth and ultra-high-net-worth clients.
The $100 million also includes secondary transactions, in which existing shareholders sell some of their stakes, meaning not all of the money raised will go directly to Slice. The split between fresh capital and secondary share sales has not been disclosed.
Sharp valuation reset
The transaction represents a substantial reduction from the valuation Slice commanded during the peak of India’s fintech funding boom.
The report said that the company was previously valued at about $1.4 billion, making the latest $450 million valuation a decline of roughly 68%.
Slice entered the unicorn club in November 2021 after raising $220 million from investors including Tiger Global, Insight Partners and Advent International.
The new funding therefore comes at a considerably lower valuation, but also after a major change in Slice’s business.
From fintech to bank
Slice was originally built as a fintech company focused heavily on credit and payments.
In October 2023, it received regulatory approval for a proposed merger with North East Small Finance Bank. At the time, Slice already held a minority stake in the lender.The merger was completed with effect from 27 October 2024, after receiving regulatory approvals, creating a combined banking entity.
The business now operates as Slice Small Finance Bank and offers products including savings accounts, fixed deposits, credit products and UPI-linked payment services.
The transition gives Slice capabilities that it did not have as a standalone fintech, including the ability to operate directly as a regulated bank rather than depending solely on banking partners for financial products.
According to media reports, the latest deal is its first major institutional fundraising round since the banking transition.
The change in business model also complicates comparisons between Slice’s current valuation and the levels it reached as a pure fintech.
Its valuation remains substantially below its fintech-era peak, but investors are now backing a business with a banking licence, a broader range of financial products and, most recently, positive earnings.
FundingFintechWealth ManagementSlice
