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Fintech startup Slice merges with small finance bank in rare India deal
Indian fintech startup Slice is merging with North East Small Finance Bank after receiving approval from the Reserve Bank of India.
The merger follows Slice — which currently has a yearly revenue of about $100 million — recently acquiring a 10% stake in North East Small Finance Bank. Slice founder and CEO Rajan Bajaj said they have worked with the bank for 12 months, allowing the board, investors and management to align on a shared vision. In 2021, RBI issued a small finance bank license to Centrum Financial and BharatPe to address a capital-starved situation.
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