India-based fintech developer SlicePay has raised $15m in a series A round led by lender FinUp Finance Technology, the Economic Times reported yesterday.
Blume Ventures, Das Capital and Simile Ventures also supported the funding round. SlicePay did not officially confirm the amount raised.
SlicePay, originally known as Buddy, operates an online lending platform that offers micro-loans and credit cards aimed at students and young professionals. The company currently operates in five cities and will use the series A cash to expand into additional markets.
Das Capital and Simile Ventures previously invested $2m in October 2017, after Blume Ventures had led a $500,000 pre-series A round with participation from Tracxn Labs in 2016.
Zhang Hui, chairman of FinUp, said: “The significant increase in the number of youngsters using digital channels to solve their day-today needs opens up a big opportunity for innovative companies such as SlicePay to lead the wave of the digital finance space in India.
“As a leading fintech company in China, we witnessed and experienced this growth. Now, we are excited to work with the SlicePay team to build the future of this industry in India.”