The Briefing: Slice Snags $220M, Twitter CEO Jack Dorsey Steps Down, And More

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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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India’s Slice snags $220M

Slice, an Indian startup that offers payment cards with a marketing focus on young professionals, raised $220 million in a funding round led by Tiger Global and Insight Partners.

The financing sets a valuation of over $1 billion for the Bangalore-based company, which was founded in 2016. In addition to using its cards for payments, Slice also provides installment payment features and discounts at various merchants.

Twitter CEO Jack Dorsey resigns

Jack Dorsey said Monday that he stepped down as CEO of Twitter. In a letter to the company’s employees that Dorsey also p posted online, he said CTO Parag Agrawal would be the company’s new CEO starting today, and that Salesforce 1president and COO Bret Taylor would become Twitter’s new board chair. Dorsey also serves as CEO of payments company Square.

CNBC was the first to report the news of Dorsey’s resignation.

–Sophia Kunthara

Funding rounds

Thought Machine picks up $200M: London-based Thought Machine, provider of a cloud-based banking technology platform for financial services customers, raised $200 million in a Series C funding round led by Nyca Partners. The round sets a valuation of over $1 billion for the seven-year-old company.

Motorway raises $190M: London-based Motorway, a used car marketplace, raised $190 million in a Series C round led by Index Ventures and ICONIQ Growth. Founded in 2017, the company has raised around $276 million in total funding to date, per Crunchbase data.

— Joanna Glasner


Illustration: Dom Guzman

  1. Salesforce Ventures is an investor in Crunchbase. It has no say in our editorial process. For more, head here.

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