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CCI approves fintech unicorn slice's merger with North East SFB

IndianStartupNews · 1y

The Competition Commission of India (CCI) has given approval for the merger between fintech unicorn slice and North East Small Finance Bank (NESFB). The merger will integrate slice's parent company, Garagepreneurs Internet Private Limited (GIPL), its NBFC arm Quadrillion Finance, and subsidiary Intergalactory Foundry Private Limited (IFPL) with NESFB and its subsidiary RGVN (North-East) Microfinance Limited. The merger is expected to expand slice's service offerings, improve its underwriting capabilities, and enhance the customer experience. Slice aims to navigate regulatory challenges and expand its market presence through this strategic move.