Slice Small Finance Bank to raise $100m, valuation $450-$470m
Slice Small Finance Bank, the banking arm of fintech player Slice, is set to raise $100 million through a mix of compulsorily convertible debentures and partly paid equity shares.
The plan is to collect ₹485 crore through a mix of compulsorily convertible debentures and partly paid equity shares.
This round values Slice at $450 to $470 million, a steep dip from its $1.5 billion peak in 2022.
Slice bank June quarter nets ₹50.9cr
After merging with North East Small Finance Bank in 2024, Slice got its banking license and has been on the upswing.
Its capital adequacy ratio jumped from 5.5% to 18.17%, income rose 39% year-over-year, and it swung from a loss to a net profit of ₹50.9 crore in the June quarter.
Deposits have doubled to ₹5,765 crore, and advances are up by 56%, showing strong growth as it shifts from fintech startup to full-fledged bank.