India-based Slice said to close $5.2m debt facility

Slice, a payments app for millennials and generation Z in India, has reportedly closed a $5.2m debt facility to increase its lending capacity.

The funds were supplied by Vivriti Capital, Northern Arc Capital, InCred, Growth Source, Ashv and others, according to a report from TechCircle.

With the debt support, Slice is hoping to increase its lending capabilities and onboard more customers.

India-based Slice provides users with a mobile payments app and debit card that gives pre-approved credit. The Slice card is aimed at people between 18 and 29 and can be used at both online and offline merchants. The card also supports buy now and pay later services.

Earlier in the week, fellow India-based FinTech platform LivFin reportedly closed $4.7m for its funding round. The company supplies small business loans, supply chain finance and working capital loans.

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