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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

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

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

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

CNBC the news of Dorsey’s resignation.

–Sophia Kunthara

Funding rounds

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

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

— Joanna Glasner

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