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Slice completes ESOP Buyback Worth Rs 65 Crore

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Slice completes ESOP Buyback Worth Rs 65 Crore
15 Feb 2022
6 min read

News Synopsis

Fintech unicorn Slice has completed ESOP buyback worth Rs 65 crore, the company announced on Monday. About 60 ex-employees and ex-employees, holding repurchased shares in the company, are eligible for redemption.

The start-up raised $220 million in a Series B funding round that took the valuation of the company to over $1 billion. It issues prepaid visa cards with a credit line that allows users to get credit card-like benefits as well as build their credit score. Slice also claims to have more than 7 million registered users with 40% month-on-month growth.

The CEO and founder of Slice, Rajan Bajaj has said that this buyback plan is a little way of thanking its teams, who have not only contributed to slice but also to the larger financial ecosystem.

The company aims to launch its UPI products in 2022 for further enhancement of the payments experience of the millennials and Gen-Z in India. It is backed by investors such as Tiger Global, Insight Partners, Advent International, Blume Ventures, and Gunosy Capital. It has raised $270 million since its inception.