Slice Bank aims to raise $250M for nationwide expansion. RBI has approved its merger with North East Small Finance Bank.
Rebranded as Slice Bank, the fintech startup is rolling out banking services with competitive savings account rates.
Slice Bank targets 70M customers by FY30 from its current 11M user base, planning to open more digital and physical branches.
Slice Bank will launch a merchant platform with lending and settlement solutions, competing with platforms like BharatPe.
Backed by Tiger Global, Slice Bank has an annual revenue run rate of ₹1,200 crore and a valuation of $1.3-$1.5B.
Slice Bank will establish digital banking units (DBUs) for self-service banking, creating a hybrid digital-first customer experience.