Slice Small Finance Financial institution, a fintech startup, has entered the micro, small, and medium enterprises (MSME) and service provider lending markets, providing completely digital loans.
Slice’s foray into service provider funds and financing places it in direct competitors with Paytm, PhonePe, Google Pay, and BharatPe, amongst others.
The Bengaluru-based small financing financial institution has lately launched the Slice Enterprise app on the Google Play retailer. In accordance with the Google Play Retailer itemizing, it provides companies a digital present account, QR code, and UPI cost advantages for receiving client cash of their Slice present account, in addition to a UPI soundbox, much like what Paytm and PhonePe present.
Not like most different firm present accounts, Slice offers prompt settlement, whereas different present accounts do it on the finish of the day or the next day. Slice, in contrast to a lot of its fintech opponents, is a financial institution fairly than a cost aggregator and therefore has the capability to take action.
In an effort to entice current Paytm, PhonePe, and BharatPe service provider clients, the fintech firm can be providing prizes primarily based on cost acceptance and quantity. Retailers can now open a zero-balance present account with Slice.
“The broader imaginative and prescient is to construct a full-fledged digital financial institution. Service provider lending is a logical extension of that roadmap,” the supply mentioned.
Not like Paytm and PhonePe, Slice is prone to lend primarily from its personal books. Slice has a bonus over its opponents since it’s a financial institution that may settle for public deposits, which reduces the corporate’s funding prices and permits it to supply aggressive rates of interest.
Slice is providing as much as Rs 5 lakh in quick digital loans with no collateral and a compensation time period of as much as 24 months.
During the last yr, Slice has additionally expanded its client phase by introducing digital financial savings accounts, UPI-enabled branches, UPI-linked bank cards, and UPI credit score.
Slice achieved profitability within the first half of the present fiscal yr, producing a web revenue of Rs 7 crore. In accordance with statistics from credit standing company Crisil, it recorded complete earnings of Rs 632 crore within the first half of FY 26, up from Rs 604 crore within the full fiscal yr FY 25, indicating a 100% improve in earnings.
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