Slice Bank, a Bengaluru-based small finance bank, is seeking to raise between US$250 million and US$300 million from financial investors and family offices.

This comes after its merger with North East Small Finance Bank, which received approval from the Reserve Bank of India (RBI) in October.

Currently, Slice Bank has started to roll out banking services to selected user groups, offering competitive interest rates on savings accounts. It plans to introduce merchant lending and payment settlement services.

Slice Bank operates 200 branches and aims to expand its customer base from 11 million to over 70 million by 2030.

Valued between US$1.3 billion and US$1.5 billion, Slice Bank has an annual revenue run rate of 1,200 crore rupees (US$138.94 million).