Slice Eyes FY26 Profit, 3 Yrs After Crackdown

The turnaround follows its transition into a regulated bank in Oct 2024

- Mansi Verma

Three years after a regulatory crackdown disrupted its core business, fintech startup Slice says it has turned profitable on a monthly basis and is targeting full-year profitability in FY26.

The turnaround follows its transition into a regulated bank after its final merger with North East Small Finance Bank (NESFB) in October 2024.

Slice was among several fintechs forced to stop offering credit lines via prepaid payment instrument (PPI) wallets after the Reserve Bank of India's June 2022 circular. This effectively shut down Slice's popular card offering, which had gained traction among younger Indian users.

Following its merger with NESFB, Slice has stabilized its operations, consolidated assets and transitioned into a deposit-funded, digital-first bank, founder and executive director Rajan Bajaj told Mint.