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Hidden Startup Secrets of slice | slice Business Model

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Slice Become become india's 41st unicorn of India A credit Card Challenger startup that does the conventional credit payment. | slice Business Model

What could be the worth of a Financial institution which don't even ask for the salary slips or bank statements before lending ? 

As of Today it's a billion dollars. Slice Become become india's 41st unicorn of India. 

A Credit Card Challenger Startup that does the conventional credit payment business in a fresh fashion.

Slice raised 220 million Dollars in its series B that took beyond the billion Valuation mark interestingly the company was valued at 200 million some months back but due to soaring in popularity in recent months has made it grow by 5x times.

Numbers and stats are not the interesting part of this fintech startup. Its approach and target market

Slice aims to serve gen Z and millennial audience the ones which are less desired by the Conventional banking business business. 

Company Details

City: Bengaluru
Founders: Deepak Malhotra, Rajan Bajaj
Founded: 2016
Industries: Banking, Financial Services, FinTech, Lending, Payments
Number of employees: 251-500
Revenue: INR 35.35 Cr (FY21)
Funding amount: $53,665,909
Official Website: sliceit.com

It is common that these age group are fresh college pass outs or drop outs who are occupied in an unpaid internship, entry level jobs or non steady freelance work too risky for an Traditional Bank but Slice has built an billion dollar evaluation just serving this very group. Read More Groww Business Model

slice Startup Story

IIT kharagpur alumnus Rajan bajaj was picked up by flipkart right after the college.

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This executive job at E-Commerce giant  help rajan gaining knowledge of digital payments and consumer behaviour But, bitten by the entrepreneurial bug rajan left the job less than a year to create something of his own in 2015 he Founded mesh a community sharing startup as Rajan puts it mesh was Air bnb of things.

This Startup started with furniture renting moved to two wheeler and four wheeler rentals and finally tried gaming console rentals but the idea that mesh just werent taking off.

Rajan was thinking for an business idea to turn the things around when it struck him that he was living with the idea all along. 

Rajan made his own financial crisis business idea by founding a Credit Company that caters to the financial needs of exactly his age group . 

Research shown that Indian Banks rely heavily on the outdated methods to determine a Individual’s credit Worthiness these methods deem it too risky to give credits along most Young Indian.

In 2015 Rajan founded Slicepay a fintech credit service for and by millennials. While the company was trying to tap untapped market the sailing wasnt smooth for the first three years. 



It was only in 2019 when the fortunes changed when Slice tied up with Visa and became a worthy Credit card challenger from here on the Company changed its name from slicepay to Slice.

Challenger Institution our organization small scale institution that cater to consumer and services which big banks wont in a quick span of time challenges became successful in the west due to their hassle free money lending procedures, 

Today India has 25 million credit card users but 500 million smart phone user. 

This is an ideal setting for a challenger company Slice exploited this gap to its supercard a prepaid visa card with a credit line. 

Slice is only financial institution that approaches the credit business as a customer experience business rather than a profit on lending . 

slice Business Model

The company and its 29 year old founder boast of their understanding of their target audience the millennials and Gen-Z this age group is their initial stage of their careers due to which traditional Banks never priotize servicing them hence the Service that Slice are tailor made for them. Read More CRED Business Model

This is how slice operates , salary slips and bank statements are not needed to get a slice card a lack of steady income or low civil score doesnt matter either.

Slice card is free for life No joining or annual fee, Slice card users can pay back the amount in 3 months without any charges instead of conventional one month, Slice cards have most flexible credit range to choose from just Rs 2 thousand and extending up to 10 lakhs, every transaction is rewarded with 2% cashback. 

The best feature which i s considered of Slice is low Cost EMI.

Slice gained National and International attention in October when it introduced a revolutionary three day work week in India. 

Credit: Stoa

They say their employees to pursue the other endevors in life too the company is tight lipped about the numbers.

But, sources claim that Slice has been receiving back to back annual revenue in range of 60 Million dollars as of now slice was 5 million registered user the company started 2021 by adding 20K user/month annually but by the later half number stand as a whopping 2 lakh user a month. 

According to the founder Rajan Bajaj 70 % new user come to slice by referals of existing users.

Kunal Shah, the founder of another credit service provider, Cred, is an angel investor in Slice. 

Slice is currently working on integrating UPI-based payments into its app and has plans to launch a series of new cards, including one focused specifically on teenagers.

The credit and debit business in India has long been carried out in a certain way by traditional financial institutions, which has given them the power to define certain consumer groups as desirable or non-desirable. Read More How Does Paytm Makes Money

However, the success of Slice proves that if a company understands its target market well enough and adapts its product to meet their needs, the binary of desirable and non-desirable consumers becomes irrelevant. 

This is a testament to the importance of understanding and serving specific target markets, and the potential for growth and success that comes with it.

slice Founder and Team

Deepak Malhotra

Deepak Malhotra is a Co-Founder at Brick and angel investor/thought leader in fintech and early stage startups. At Brick, Deepak leads technology and product efforts across Indonesia and SEA. 

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slice Founders - Deepak Malhotra (L) and Rajan Bajaj

Deepak specializes in technology-enabled financial services models, lending, credit risk, early stage investing, product strategy and digital transformation.

Prior to joining Brick, Deepak co-founded Slice, where he spearheaded leading technology and growth efforts. 

Slice is a Unicorn🦄 fintech startup based in India which offers users an alternate to credit cards. Born and raised in India, Deepak has spent the last decade between India, Singapore and Jakarta. 



Deepak is a Computer Science graduate from BITS Pilani and spent the early part of his engineering career at eBay & Paypal in their product development center based in Bangalore.

Rajan Bajaj

Rajan Bajaj is the founder & CEO of Slice. He started his career as a business analyst intern at Walmart and later founded the company Mesh Internet. Read More Hidden Startup Secrets Of Bharatpe

Rajan holds a bachelor's degree in civil engineering from the Indian Institute of Technology (IIT) Kharagpur.

slice Logo And Tagline

The name "Slice" is derived from the unique feature offered by the Slice app, which allows users to split a bill or amount into multiple payments without incurring any extra charges.

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The company defines itself as "India's best credit card challenger," and this tagline accurately reflects Slice's position as a leading alternative to traditional credit cards in the country. 

The company aims to offer innovative and accessible financial services to its target market of young, tech-savvy consumers.

slice Competitors

Slice competes with a number of other financial institutions and fintech companies that offer credit card services and other financial products in India. 

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Some of its competitors include traditional banks and credit card providers, as well as other fintech companies that are targeting the same demographic of young, tech-savvy consumers.

Examples of Slice's competitors include companies such as Cred, OneCard, SaveIN, Uni, Paytm, and KreditBee, as well as established Banks and credit card providers such as HDFC Bank, ICICI Bank, and Citibank. 

Each of these competitors offers a range of credit card services and other financial products, and Slice differentiates itself from these companies by offering a unique set of features and a focus on serving the needs of young consumers.
what is slice card?

Slice Card is a credit card designed for Indian millennials, offered by Slice, a fintech company based in India. The Slice Card is targeted towards individuals who are new to credit or have a limited credit history, and provides them with a range of benefits and features.

slice credit card which bank?

Slice is not a bank but a fintech company based in India that offers a range of financial products, including credit cards. Unlike traditional banks, Slice operates entirely online, with no physical branches, and provides its services through its mobile app and website.

how to increase slice card limit?

If you have a Slice Card and want to increase your credit limit, you can do so by following these steps:
Check your eligibility: First, you'll need to check your eligibility for a credit limit increase. You can do this by logging into your Slice account and checking the eligibility criteria. Generally, you'll need to have a good credit score, a consistent repayment history, and an income that supports a higher credit limit.
Request a credit limit increase: If you meet the eligibility criteria, you can request a credit limit increase through the Slice app. Go to the 'Credit Limit' section of the app, and select 'Increase Limit.' You'll be asked to provide some basic information and supporting documents, such as income proof, to support your request.
Wait for approval: After submitting your request, you'll need to wait for approval from the bank that issues the Slice Card. This can take several days, as the bank will need to review your application and verify your documents.
Receive confirmation: If your request is approved, you'll receive a confirmation through the Slice app. Your credit limit will be increased, and you can start using your new credit limit right away.

how to pay slice card bill?

You can pay your Slice Card bill easily and conveniently through the Slice app. Here's how:
Log in to your Slice account: Open the Slice app on your phone, and log in to your account using your registered mobile number and OTP.
Go to the 'Bill Payment' section: On the home screen of the app, go to the 'Bill Payment' section.
Select 'Slice Credit Card': In the bill payment section, select 'Slice Credit Card' as the biller.
Enter the amount: Enter the amount that you want to pay towards your Slice Card bill.
Choose payment method: Select the payment method that you want to use to pay your bill, such as UPI, net banking, or debit card.
Complete payment: Follow the prompts to complete the payment process. Once your payment is successful, you'll receive a confirmation through the Slice app.

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