TLDR: Slice Fintech: Rising Fast, but at What Cost?

Detailed financial statements sourced from the Registrar of Companies (RoC) highlight a consistent threefold increase in Slice’s revenue from Rs 283 crore in FY22 to Rs 847 crore in FY23. Despite impressive revenue growth, losses have also increased significantly, indicating challenges for Slice.

Key Points:

• Slice, an Indian Fintech unicorn, has reported an extraordinary surge in its operating revenue, reaching Rs 847 crore in the fiscal year 2022-23.
• However, the company also experienced a significant increase in losses, raising concerns about the sustainability of its growth.
• Slice’s revenue has consistently grown over the years, with a threefold increase from Rs 283 crore in FY22 to Rs 847 crore in FY23.
• Approximately 56% of Slice’s operating revenue is attributed to interest income from portfolio loans.
• Employee benefits and finance costs have also surged in FY23.
• Losses have grown by 59.8% to Rs 406 crore in FY23.
• Despite challenges, Slice has received significant funding from investors and is committed to sustainability.
• The company has announced a merger with North East Small Finance Bank (NESFB) to expand its financial accessibility.

Highlighted elements:

• Slice has achieved impressive revenue growth, but also experienced a significant increase in losses, raising concerns about its financial health.
• The company’s core focus on millennials and its physical and virtual card services have enabled it to build credit scores for its customers.
• A merger with NESFB and significant funding from investors signify Slice’s commitment to growth and sustainability.