slice, the Fintech Unicorn, Faces Challenges as Net Loss Surges to INR 405.8 Cr in FY23

Navigating Turbulence: Analyzing slice’s Financial Landscape and Strategic Shifts in FY23


In a recent report by credit rating agency CARE Ratings, Garagepreneurs Internet Private Limited (GIPL), the parent entity of fintech unicorn slice, has faced a significant increase in its net loss, reaching INR 405.8 Cr in the financial year 2022-23 (FY23). This marks a substantial 60% jump from the INR 253.7 Cr reported in the previous fiscal year, FY22.

Financial Overview:

Quadrillion Finance Private Limited, the non-banking financial company (NBFC) under GIPL, also experienced notable changes in its financial performance. While it had reported a net profit of INR 9.22 Cr in FY22, the company’s net profit for FY23 plummeted to INR 2.38 Cr. This shift highlights the complex financial landscape that slice and its affiliated companies navigated during this period.

Merger Announcement:

Earlier in the year, slice, known for its offerings of personal loans and UPI payments facilities, made headlines by announcing its merger with the North East Small Finance Bank Limited. This strategic move was anticipated to bring about synergies and further strengthen slice’s position in the fintech sector.

Challenges and Factors:

The surge in net loss raises questions about the challenges that slice and its parent entity, GIPL, are currently facing. Economic uncertainties, regulatory changes, and increased competition within the fintech industry may have contributed to the financial turbulence. Understanding these challenges is crucial for investors, stakeholders, and industry observers seeking insights into the company’s trajectory.

Future Prospects and Strategies:

Despite the financial setbacks, slice continues to be a prominent player in the fintech space, offering innovative solutions in personal loans and UPI payments. The merger with the North East Small Finance Bank Limited may present new opportunities for growth and diversification. It remains to be seen how slice navigates the evolving landscape and implements strategies to mitigate losses while capitalizing on emerging trends.


The recent increase in net loss for Garagepreneurs Internet Private Limited (GIPL), the parent company of fintech unicorn slice, underscores the dynamic nature of the financial sector. As slice adapts to industry challenges, investors and stakeholders will be closely monitoring its strategies and performance in the coming months. The merger with the North East Small Finance Bank Limited adds an intriguing dimension to slice’s future, and only time will reveal the impact of these strategic decisions on the company’s overall trajectory.

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