Led · Series A · Jun 2024

Sipay is a Turkish fintech that operates an all-in-one app for digital wallets, investments and loyalty schemes while offering embedded finance, FX transactions and white-label card and wallet issuance. The company integrates with Turkish banks and large e-commerce partners such as Trendyol, and works with Visa and Mastercard. Founded in 2019, Sipay says it has 6.3 million wallet users and 25,000 registered merchants. It claims to have been profitable since 2023, with revenue up 5x year-over-year and a year-end run-rate of $600 million. Sipay plans to expand its Stripe-like services into markets outside Turkey and add products such as remittances that are not widely offered by Stripe in those regions. Sipay is a Turkish fintech that provides offline and online payment services, wallet services, and a modular platform for payments. The company was founded in 2019 and is headquartered in Istanbul. Its customer base includes banking institutions, industrial and retail businesses, technology firms such as Hepsipay and Yemeksepeti, and international groups like Alibaba-owned Trendyol. Deloitte identified Sipay as the fastest-growing fintech in Turkey after reporting 10x year-on-year growth. Sipay raised a $15M Series A to advance product development and support local and international expansion. CEO Nezih Sipahioğlu said the company remains committed to building a comprehensive financial marketplace.

Participated · Series B · Nov 2021

Slice issues physical and virtual cards aimed at millennials and lets professionals and students buy collateral-free goods and services on estimated monthly installments (EMIs) via an app to build credit scores. The company is led by co-founder Rajan Bajaj and is Bengaluru-based. In November 2021 Slice’s Series C valued the company at over $1.5 billion; the article reports $340 million raised to date. Slice has pursued financial-sector expansion, including a March 2022 acquisition of a 5% stake in North East Small Finance Bank for roughly $3.42 million and an announced merger with the bank in October 2023. The business reported a 59.8% increase in losses to Rs 406 crore for the fiscal year ended March 2023 and showed 3X growth, and it has not yet filed FY24 annual results. The company has raised multiple debt tranches this year as part of its broader financing strategy. Slice is a consumer lending and payments startup that provides credit and payments solutions. The company has pursued bank partnerships, acquiring a 5% stake in Guwahati-headquartered North East Small Finance Bank and announcing a merger with NESFB to expand financial accessibility. Slice has raised $340 million to date and was valued at over $1.5 billion during its Series C in November 2021. According to reporting, its revenue jumped to around Rs 870 crore in FY23, while operating revenue grew to Rs 283.08 crore in FY22 from Rs 67.7 crore in FY21. Losses widened to Rs 253.67 crore in FY22, reflecting increased operating losses. Gunosy Capital is reported as the largest shareholder with a 14.84% stake and co-founder Rajan Bajaj holds 8.21%. Slice offers credit-card features including rewards, 2% cashback, and a buy-now-pay-later option with merchants such as Amazon and MakeMyTrip. Launched in 2019 and headquartered in Bengaluru, the startup serves over 12 million Indians and is issuing roughly 300,000–400,000 cards per month. Recently it added UPI support to drive daily engagement; the UPI product is reported to be gaining strong early traction. Slice is focused on broadening its payments offerings while working to make its core credit business profitable in the coming months. The company targets underserved consumers who lack traditional credit access by using modern underwriting systems to expand card eligibility. Slice issues multiple consumer credit cards and card products aimed at tech‑savvy young professionals, and provides features such as no‑fee bill installments over three months and merchant discounts. The company uses its own underwriting system and has launched ultra‑low‑limit products (including a $27‑limit card) to reach underpenetrated segments. Slice says it issues over 200,000 cards each month, has a registered user base of over 5 million and a waitlist of more than 1 million users. The median age of its customers is 27, which the company says mirrors its team. A source quoted in the articles reported an annual revenue run rate of over $60 million. Planned product work includes adding UPI support, new card products (including a teen‑focused card) and a decentralized identity product called '&ID'; Slice is also hiring and offering new hires a three‑day week with steady pay and benefits. Slice is a Bangalore-headquartered fintech that has built a "super card" and companion app to simplify credit-card signup and usage for millennials and Gen Z. The product lowers barriers to credit for users who are often ineligible for traditional cards, offers up to 2% instant cash back, and surfaces hyperlocal restaurant deals. Slice issues credit limits from its own balance sheet and supports in-app payments including QR-code purchases, plus a bill-splitting feature that allows up to three months of interest-free payments. The company has amassed over 3 million users and says it is profitable; it also reports that more than 65% of members see credit scores climb to 730 within six months of joining. Slice says roughly 50% of new customers previously held competitor cards and that more than half of those switch Slice to be their primary card; it expects to convert over 80% to primary use in the next six to eight months. The startup recovered from pandemic-related declines, reporting May as its best month and 25% growth in June, and plans to use new funding to develop additional features.