Slice Raises $100 Million at Around $450 Million Valuation
-
Startup Spotlight India
- September 3, 2026
Digital banking startup Slice has reportedly raised $100 million in a fresh funding round at a valuation of around $450 million.
According to a Moneycontrol report, the round was led by Indian wealth management platform Neo Wealth. Japan-based Kado Global, US-based Moore Strategic Ventures and Dhan-parent Raise Financial also participated in the round, along with other investors.
The latest funding marks a significant decline in Slice’s valuation from its peak of $1.5 billion. The Bengaluru-based fintech had reached that valuation when it raised $50 million in a Series C round led by existing backer Tiger Global, with participation from Moore Strategic Ventures and Insight Partners.
Slice attained unicorn status in November 2021 after raising a $200 million Series B round led by Tiger Global and Insight Partners.
According to Slice’s filing with the Registrar of Companies (RoC), the company’s board has approved the issuance of 40,347 compulsory convertible debentures (CCDs) worth Rs 403.47 crore ($42.5 million).
The proposed allotment includes Rs 106 crore from Moore Strategic Ventures, Rs 95 crore from Kado Global, and Rs 44 crore each from Neo Secondaries Fund and Blume Ventures.
Other proposed allottees include Raise Financial, the parent company of Dhan, DSP Investment and several angel investors.
The board has also approved the issuance of partly paid-up shares worth Rs 81.5 crore to Neo Wealth.
According to sources, the $100 million funding round included both primary and secondary transactions.
The fresh capital comes as Slice has turned profitable following its transition into a digital bank.
The company reported a net profit of Rs 48.4 crore in FY26, compared with a loss of Rs 217 crore in FY25.
Slice has continued its profitability in FY27, reporting a net profit of Rs 50.9 crore in the first quarter.
The company’s total income rose 38.6% year-on-year to Rs 413.8 crore in Q1 FY27, compared with Rs 298.6 crore in the same period a year earlier.
On a sequential basis, total income grew 3.5% from Rs 399.7 crore in Q4 FY26.
In August, Slice also strengthened its board with the appointment of Samir Sawhney as executive director and Ramesh Kumar as independent director.
Both appointments were approved by the company’s board. Sawhney’s appointment as executive director was also approved by the Reserve Bank of India.
FAQs
1. How much funding has Slice reportedly raised?
Slice has reportedly raised $100 million in a fresh funding round.
2. What is Slice’s valuation after the latest funding round?
Slice has been valued at around $450 million in the latest funding round.
3. Who led Slice’s latest funding round?
The round was led by Indian wealth management platform Neo Wealth.
4. What was Slice’s profit in FY26?
Slice reported a net profit of Rs 48.4 crore in FY26, compared with a loss of Rs 217 crore in FY25.
5. What was Slice’s total income in Q1 FY27?
Slice’s total income rose 38.6% year-on-year to Rs 413.8 crore in Q1 FY27.
