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Indian fintech Slice seals bank merger
Indian fintech startup Slice has completed its merger with North East Small Finance Bank, marking a rare instance of a startup successfully entering Indian fintech startup Slice has completed its merger with North East Small Finance Bank to become a bank.
The merger, first proposed last year, transforms the Bengaluru-based startup into a banking entity, following months of regulatory scrutiny that has reshaped India’s fintech landscape. Fintech Jupiter is in advanced stages of talks to acquire a stake in the India unit of SBM Bank, TechCrunch recently reported. The bank merger gives Slice — which counts Tiger Global, Insight Partners and Blume Ventures among its backers — access to capital at lower cost and direct control over its lending operations.
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