Mumbal IPL team brings Slice as a sponsor

This article was last updated on April 16, 2022

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The Indian Premier League’s (IPL) Mumbai Indians have announced financial technology company Slice as a new principal sponsor.

The three-year agreement – Slice’s first sports sponsorship – sees the Bengaluru-based firm secure front-of-shirt branding on all official Mumbai jerseys, replacing electronics firm Samsung.

The deal sees the Twenty20 cricket franchise add to their principal sponsor roster, following the deal signed with logistics giant DHL Express last March. A study by Brand Finance in January 2021 ranked Mumbai as the number one IPL franchise in terms of brand value at US$70.3 million, an increase of 69 per cent since the tournament’s inception in 2009.

Financial terms of the deal were not disclosed, though IPL teams have consistently struck lucrative shirt sponsorships. Notably, league champions Chennai Super Kings’ partnership with tyre brand TVS Eurogrip, signed in November, is worth more than I₹100 crore (US$13.4 million), according to the Times of India, making it one of the biggest commercial partnerships for an IPL team.

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Founded in 2016, Slice achieved ‘unicorn’ status in November after raising US$220 million in its Series B funding round led by Tiger Global and Insight Partners. Having registered a 40 per cent month-on-month growth and over seven million registered users, the company aims to launch its united payments interface (UPI) product this year as part of efforts to enhance the payments experience of millennials and Gen-Z in India.

“Being the most successful team in the IPL with five titles to its name, Mumbai Indians inspires not only millions of its fans, but also entrepreneurs like me with the team’s passion, focus, and persistent spirit,” said Rajan Bajaj, founder and chief executive of Slice.

“It’s the shared hunger for winning and excellence that bring us together. With cricket being at the heart of Indian culture, we will together bring more excitement to this vibrant culture as well as take it to all the cricket lovers around the world.”

A spokesperson for the Mumbai Indians added: “We wanted to partner with a brand with whom we shared common values. Innovation, technology and a fan-centric approach are core values for Mumbai Indians as well as Slice. We both share the vision of offering our fans a world-class experience with the drive and enthusiasm to be the best.

“This deal is testament to how a millennial brand like Slice trusts us as their preferred partner to connect with their young customers. It is truly about making a difference in the way cricket and financial products are perceived by our millennial and Gen-Z fanbase.”