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News on Medial
Slice SFB aiming to close FY26 in the black; not looking to raise any capital - The Economic Times
Economic Times
·
1m ago
Medial
Slice Small Finance Bank, formed from a merger between fintech Slice and North East SFB, is now profitable monthly and targets FY26 for full-year profitability. The bank, led by Executive Director Rajan Bajaj, is well-capitalized and not seeking additional funds. Its strategy focuses on pan-India expansion via digital channels without further mergers. They aim to transition to a universal bank, expanding services like consumer credit and UPI-based credit cards, targeting underserved banking populations.
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slice to rebrand as Small Finance Bank, plans fundraise for expansion
YourStory
·
6m ago
Medial
Fintech startup slice will merge with North East Small Finance Bank (NESFB) to form slice Small Finance Bank Limited (slice SFB), India’s first fintech bank, with partial regulatory approval, including an RBI NOC. The merger aims for nationwide expansion, offering varied financial products. Post-merger, the bank's net worth rose to Rs 912.58 crore with improved financial ratios. Slice SFB plans to raise $250-300 million, expanding its customer base and workforce significantly.
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Slice Small Finance Bank turns profitable on monthly basis; targets IPO in 3–4 years - The Economic Times
Economic Times
·
1m ago
Medial
Slice Small Finance Bank (SFB) recently became profitable as a consolidated entity, following its merger with North East SFB in October 2024. The bank, which now includes Quadrillion Finance, aims for net profitability this quarter. Despite past losses at the consolidated level, Slice SFB is making progress, doubling deposits in six months and adding 300,000 customers monthly. The bank plans a public listing in 3-4 years and is developing a digital banking platform leveraging UPI.
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Unicorn Slice eyes $100 million to fuel its banking dreams
Economic Times
·
1y ago
Medial
Fintech unicorn Slice is reportedly in talks for a $100 million equity funding round to support its banking ambitions. The funding would be directed towards the new entity formed by the merger of Slice and North East Small Finance Bank. Slice is looking for an external investor to lead the round, although discussions are still in the early stages and may take a few months to finalize. The funding is necessary to maintain the capital adequacy ratio of the merged bank and meet regulatory requirements.
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North East Small Finance Bank to rebrand as Slice Small Finance Bank
Entrackr
·
6m ago
Medial
North East Small Finance Bank Limited (NESFB) is set to undergo a rebranding initiative with a proposed name change to Slice Small Finance Bank Limited (Slice SFB), according to a company extraordinary general meeting (EGM) notice. The name change has already received a “no objection” letter from the Reserve Bank of India (RBI) on January 16, 2025, and is subject to final approval by the Registrar of Companies. Slice had announced the completion of the merger in October last year, following approval from the NCLT. The deal originated in March 2023, when Slice acquired a 5% stake in the Guwahati-headquartered bank for around $3.42 million. This merger combines the operations, assets, and brands of both companies, forming a unified, tech-driven banking institution. Post-merger, the bank’s net worth has surged to Rs 912.58 crore, while its CRAR has risen to 23.67%, according to the EGM notice. Additionally, the NNPA has improved from 6.69% to 4.62%. Slice is also in talks to raise $250-300 million. Last year, the company raised nearly $8.6 million from its founder and CEO, Rajan Bajaj, via partly paid-up shares and over $36 million in a debt funding round. Slice saw threefold growth in revenue to Rs 847 crore in FY23 from Rs 283 crore in FY22. However, this rapid growth came at a cost, as the company’s losses increased by 59.8% to Rs 406 crore during the period.
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Chinese AI firm Fourth Paradigm leads Hong Kong IPO surge to raise $280 million
Economic Times
·
1y ago
Medial
Chinese AI firm Fourth Paradigm is leading a surge of Hong Kong initial public offerings, aiming to raise up to $280 million. Fourth Paradigm, along with cloud hospital platform Neusoft Xikang and mobile games operator ZX Inc, is looking to raise funds through these IPOs. Fourth Paradigm, added to the U.S. Entity List this year, offers AI software products used in various sectors. Neusoft Xikang is aiming to raise $81-101 million, while ZX Inc is looking to raise $27-34 million.
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TVS Capital’s new fund nears final close above $500 mn with LP co-investment pool
VCCircle
·
4m ago
Medial
TVS Capital is approaching the final close of its fourth fund, securing over $500 million, including a limited partner co-investment pool. Under the leadership of Chairman & Managing Director Gopal Srinivasan, the Chennai-based private equity firm is looking to raise capital from domestic investors. It aims to invest in Indian growth-stage companies, joining other alternative investment firms in seeking new funds to support local businesses.
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slice Eyes $250–300 Mn To Boost Its Digital Banking Play
Inc42
·
6m ago
Medial
Slice is aiming to raise between $250 million and $300 million to enhance its digital banking services. The company, known for its innovative payment solutions, plans to utilize the funds to expand its product offerings and improve customer experience. This funding round is part of Slice's strategy to solidify its position in the competitive fintech landscape. The investment will also support the development of new features and technologies to attract a broader user base. By focusing on digital banking, Slice aims to cater to the evolving needs of consumers, ultimately driving growth and increasing market share in the financial sector.
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Turkey-focused VC Revo Capital marks first close of Fund III
VCCircle
·
3m ago
Medial
Revo Capital, a Netherlands-based venture capital firm focused on early-stage technology startups in Turkey, announced the first close of its third fund at 86% of the targeted size. Aiming to raise $100 million, with a $150 million cap, the fund plans to invest in 25 tech companies in Turkey and Central-Eastern Europe. Revo invests in fintech, SaaS, cybersecurity, and healthtech, with a new focus on pre-seed investments and exploring opportunities in Web3.
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Meta seeks $29 billion from private capital firms for AI data centres: Financial Times - The Economic Times
Economic Times
·
1m ago
Medial
Meta Platforms is aiming to raise $29 billion from private capital firms to fund AI data centers in the U.S., including $3 billion in equity and $26 billion in debt. This initiative supports Meta's AI advancements amid competition with OpenAI and Google. The company is in discussions with investors like Apollo Global Management and Morgan Stanley advises on the financing. The investment responds to the growing demand for specialized data centers for AI infrastructure.
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Aramco's VC arm building India team; IndoSpace eyes $800 mn InvIT
VCCircle
·
1y ago
Medial
Saudi Aramco's venture capital arm, Prosperity7 Ventures, is expanding its presence in India and looking for early-stage investment opportunities in the country. The unit, which has over $3 billion in assets under management globally, is in talks to hire a leader for its India operations. Meanwhile, IndoSpace is aiming to raise $800 million through an infrastructure investment trust (InvIT) to fund its logistics real estate projects in the country.
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