A former employee of Flipkart, Rajan Bajaj is the visionary founder of Slice, a prominent fintech startup that has transformed the credit card industry.
A former employee of Flipkart, Rajan Bajaj is the visionary founder of Slice, a prominent fintech startup that has transformed the credit card industry. Following a brief employment at Flipkart, Bajaj started his own business, Mesh, which was a platform for sharing different kinds of goods. Mesh faced difficulties and made him realise that young people who were tech-savvy had unmet financial needs. Founded in 2015, Slice provides hassle-free credit services designed especially for Gen Z and millennials, who frequently struggled to get loans because of their short credit histories.
Slice is distinguished by its distinct approach to credit cards, which deviates from the traditional banking model by doing away with the requirement for customary paperwork like pay stubs and bank statements. This strategy aims to deliver a smooth and satisfying credit experience, which aligns with the preferences of its target audience.
Slice faces intense competition from established banks like HDFC Bank, ICICI Bank, and Citibank as well as fintech companies like Cred, OneCard, SaveIn, Uni, Paytm, and CreditBee. These companies are all fighting for a piece of the credit card market, which targets a similar demographic.
With more than 12 million registered users, Slice has accomplished incredible success. In the fiscal year 2022–2023, its payment and lending business brought in an astounding Rs 847 crore in revenue. During the same period, Rajan Bajaj humbly received a nominal annual salary of Rs 12 despite his immense success. Slice's valuation has reportedly increased to over $1 billion (about Rs 8300 crore), according to media reports. This is a result of the company's steadfast dedication to innovation and technological advancement, which have been essential to its rise to the top of the industry.
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