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Meet man, who once worked at Flipkart, now runs Rs 8300 crore company, his business is...

Rajan Bajaj, a former Flipkart employee, is the creative creator of Slice, a well-known fintech company that has revolutionised the credit card market. Bajaj worked for a short while at Flipkart before starting his own company, Mesh, which provided a platform for exchanging various products. Mesh's struggles helped him recognise that young people with internet knowledge had unfulfilled financial requirements. Founded in 2015, Slice offers hassle-free credit services tailored at Gen Z and millennials in particular, who have historically had difficulty obtaining loans due to their short credit histories.

Slice stands out for its unique approach to credit cards, which departs from the conventional banking paradigm by doing away with the need for standard documentation such as bank statements and pay stubs. By catering to the tastes of its intended audience, this strategy seeks to provide a seamless and fulfilling credit experience.

Established banks like HDFC Bank, ICICI Bank, and Citibank as well as fintech startups like Cred, OneCard, SaveIn, Uni, Paytm, and CreditBee are fierce rivals to Slice. Targeting a similar audience, these firms are vying for market share in the credit card industry.

With over 12 million people enrolled, Slice has achieved remarkable success. Its loan and payment operations generated a staggering Rs 847 crore in income in the fiscal year 2022–2023. Despite his enormous accomplishment around that time, Rajan Bajaj modestly accepted a meagre Rs 12 yearly pay. Media sources claim that Slice's worth has climbed to above $1 billion, or around Rs 8300 crore. This is the consequence of the business's unwavering commitment to innovation and technical development, both of which have been crucial to its ascent to the top of the sector.

Source : DNA India