slice Eyes $100 Mn Funding At 60% Valuation Cut As Bank Valuation Takes Shape

Fintech unicorn turned small finance bank (SFB) slice is set to raise around $100 Mn in fresh funding at a valuation of $450 Mn-$465 Mn, marking a sharp decline from the startup’s last valuation of around $1.25 Bn, sources told Inc42. The round is expected to be backed by Peak XV-backed wealth management platform Neo Group, Japan-based Kado Global and existing investor Moore Strategic Ventures, according to people familiar with the development. The round could also include a secondary component,