Fintech unicorn Slice has raised Rs 75 crore (USD 9 million) in debt from Stride Ventures, marking its first funding of 2023.
The company passed a special resolution to allot 7,500 non-convertible debentures at an issue price of Rs 1,00,000 per share. The debentures, with an interest rate of 14.25 per cent per annum, have a tenure of 15 month.
Moreover, as per regulatory filing, the debt round could extend to Rs 300 crore (USD 35 million). Recently, Slice and North East Small Finance Bank (NESFB) announced their merger to enhance financial accessibility.
Slice had previously acquired a 5 per cent stake in NESFB in March, valuing the small finance bank at approximately USD 68.4 million. The fintech firm, valued at over USD 1.5 billion during the Series C round in November 2021, has raised a total of USD 340 million to date.
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