Slice, an India-based credit platform developer backed by online lender FinUp and news aggregator Gunosy, is in advanced talks to raise $100m in a funding round led by Tiger Global Management, TechCrunch reported on Friday.
Other firms involved in the potential round include Insight Partners, Ribbit Capital and Greenoaks, sources close to the matter told TechCrunch, adding that the terms of the financing can still change as discussions go along.
Founded in 2015, Slice operates and online lending platform that offers credit cards typically aimed at millennials, as an alternative to the traditional bank cards that may be burdensome to get hold of, thereby helping people build a credit score even when they don’t have a traditional full-time job.
The company claims to currently have more than 3 million registered users, whose ages average out to 27 years.
Slice raised $20m from Gunosy’s corporate venturing unit, Gunosy Capital, and Blume Ventures in June this year, a year after securing $6m in a pre-series B round that included Gunosy, EMVC, Das Capital, Better Capital and Kunal Shah.
FinUp led the company’s $15m series A round, which closed in 2018 with participation from Blume Ventures, Das Capital and Simile Venture Partners. It came after Blume Ventures led a $500,000 seed round in 2016 that included Tracxn Labs.
