Slice Card company in huge loss. Deactivate account?

Deal Captain
As per news report -
Garagepreneurs Internet Private Limited (GIPL), the parent entity of fintech unicorn slice, had reported a net loss of INR 253.7 Cr in FY22

Quadrillion Finance Private Limited, the NBFC of GIPL, reported a net profit of INR 2.38 Cr in FY23 as compared to INR 9.22 Cr in FY22

Earlier this year, slice, which offers personal loans and UPI payments facility, announced its merger with the North East Small Finance Bank Limited.
I already removed my account after so much hassle, will suggest others to also not keep any balance and repay any loans, finally close acc.
Earlier Slice used to give nice discounts and offers, also app was good. But suddenly they focused on how to cheat people and as a result got into a mess.IMG20231224100814

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kya cheating hue h apke sth?

Deal Captain Deal Captain
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Withdrawal issue.

Pro Entertainer Pro Entertainer
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Don't you worry bro. Someone with black money will again invest in it for making it white showing loss.

Happens all the time with all the new start-ups.

And loss is made by company why are you worried about it? Let the MBA degree holders getting plump salary from company handle it.

You just keep an eye on your payments and any TnC changes.

Deal Captain Deal Captain
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No need to check hidden terms(scams) masked in flavourful aristocratic English. I already learnt a lesson and deactivated my account joy. I am happy with ltf credit card.
Deal Newbie Deal Newbie
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This newage 'start-up' culture does NOT work om the principles of 'growth' of topline (aka profitability).

It is mostly about 'valuation'. Market size and penetration matters too.
That is why, often the 'burn rate' is quite high in the initial phases.
But if it is not pared down to manageable levels, then the burgeoning operational costs, high bleed rate, issues with scalability add up fast.

Maybe this start-up too is past its euphoric initial blitzkrieg.
This magnitude of 'losses' are not that big though, given the size of it active transactional user base.
They would stay afloat, for a while.
Pro Community Angel Pro Community Angel
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This isn't "huge" loss for their investors. 

Abhi aur jalayenge paisa. 

Finance Ninja Finance Ninja
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Ya, startup companies bas paise jalane k liye he bande hai.

Mujhe toh haashi aata hai jab kuch log UPI pe zero MDR hone pe startup companies k loss ho raha hai kar k rohte rahete hai. 😀

Logo ko idea he nhi hai ki UPI pe MDR laga de toh kitna % Paytm UPI, Phonepe UPI ko milta hai.

Just 0.02% milta hai UPI MDR pe Paytm UPI, Phonepe UPI ko.

Aur logo ko lagta hai 0.02% lekar multi-billion dollar ki paytm UPI, phonepe UPI company profitable ho jayega. 😀
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Wingman Wingman
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Deactivated it earlier this year. Guess I'm just ahead of the curve! 


Deal Captain Deal Captain
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I also deactivated when the air felt different.
Deal Newbie Deal Newbie
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How to deactivate?

Deal Captain Deal Captain
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Send them email. Or use app to lodge request. But now they are giving offers to attract users again, so u can think before deactivation.
I don't know how they give the cashback. If they are using that same withdrawal scam then it's better to deactivate.
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