Asian Tech Press (Nov 29) -- Indian fintech company Slice announced Monday that it closed a $220 million funding round, at a valuation of more than $1 billion, Bloomberg reported.

The Series B funding round was led by investment giant Tiger Global Management and private equity firm Insight Partners, with participation from Moore Strategic Ventures, Gunosy Capital, Sunley House Capital and Blume Ventures.

After the closing of the round, Slice is valued at over $1 billion, making it India's latest unicorn. And the capital will be used to boost hiring, offer new products and services, and expand into the digital payments market.

Slice launched its credit card service in 2019, offering cash back and flexible payment options. The company now issues more than 200,000 cards per month, and has become one of the top credit card providers in India.