“Can a fintech that became a bank build India's most loved consumer bank by fusing UPI-native credit with transparent, repo-linked savings?”
Founded 2016 as SlicePay, a student-focused BNPL fintech. Pivoted to a UPI-credit-card-led consumer fintech in 2019-2021 under partnerships with SBM Bank India and Visa. After RBI's 2022 crackdown on PPI-based credit lines disrupted the original business model, Slice pursued and completed a merger with North East Small Finance Bank in 2024 — transforming itself from a card-issuing fintech into a chartered small finance bank. It now operates a full-stack consumer bank in India with savings, UPI, credit, and physical branches.
Slice discloses Slice Small Finance Bank Limited (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Slice does not disclose a bank charter of its own; its banking services are provided through Slice Small Finance Bank Limited (in-house).
Slice processes payments through M2P, Juspay, Razorpay, BillDesk and Adyen (US Slice pizzeria platform - different entity). Disclosed money-movement rails: UPI.
Slice's cards are issued through M2P.
The Embedded Finance Index 2026 maps 6 layers in Slice's stack: Payments / PSP (M2P, Juspay, Razorpay, BillDesk and 1 other); Money movement (UPI); Banking / BaaS (Slice Small Finance Bank Limited (in-house)); Card issuing (M2P); Lending (slice Borrow, Credit line on UPI (up to ₹5 lakhs) and EMI conversion); Sponsor bank (Slice Small Finance Bank Limited (in-house)).
Slice was founded by Rajan Bajaj and is founded in 2016, headquartered in Bengaluru, Karnataka, India.
Slice has raised unknown in total (latest round: Series C ($50M, 2022); valuation: $1.5B-$1.8B (2022)).
Get a read on where your own stack stands against Slice and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.