Indian fintech unicorn Slice acquires stake in a bank

Slice has acquired a 5% stake in the Indian bank North East Small Finance in what analysts say is a key step in the unicorn fintech startup’s journey amid mounting challenges from the central bank that has toppled many young firms.
The Bengaluru-headquartered startup invested $3.42 million for the 5% stake in the Guwahati-headquartered small finance bank in September, a regulatory filing showed.
The investment comes at a time when the Reserve Bank of India has clipped the wings of many fintech startups operating in cards and lending categories by mandating strict compliance with stringen

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