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Slice is a rapidly growing fintech platform founded by Rajan Bajaj in 2015. The company focuses on providing financial services tailored to young Indian consumers, particularly through innovative credit and payment solutions. It initially started as a credit line provider and later expanded into full-fledged digital banking experiences. With its sleek UI, minimal documentation process, and high approval rates, Slice has amassed ...
| Founding Year | 2015 |
|---|---|
| Headquarters | Guwahati, Assam, India |
| Valuation | $1.5B+ |
| Total Funding | $270M+ |
| Users | 12M+ |
| Employees | 1000+ |
| Revenue FY23 | $100M+ |
| Net Profit (PAT) | -$98M |
| EBITDA Margin | -80% |
| ROCE | -25% |
Slice's revenue has grown exponentially from under $5M in FY21 to over $100M in FY23, driven by user acquisition and credit card issuance. However, losses have also escalated, reflecting operational costs and credit risk exposures as the company scales aggressively.
Slice’s EBITDA margins have worsened year-over-year, reaching -80% in FY23. Expense-to-revenue ratios have consistently stayed above 150%, emphasizing the company’s investment-heavy growth strategy and customer acquisition costs.
Slice’s team has more than tripled in the last 3 years, reflecting the company’s scale-up operations, tech investments, and regulatory efforts post RBI scrutiny on NBFCs and prepaid instruments.
Slice completed its merger with North East Small Finance Bank in 2024, becoming India’s first fintech to transition into a licensed bank, marking a pivotal strategic shift for the firm.
| Metric | Details |
|---|---|
| Employees | 1000+ (consistent expansion) |
| Revenue | $100M+ (strong growth) |
| PAT | -$98M (significant losses) |
| EBITDA Margin | -80% (poor profitability) |
| Strategic Investments | Bank license acquisition |
| IPO Status | Planned post-2026 |
| Expansion Focus | Full-stack digital bank |
| Latest News | Completed bank merger in 2024 |
Slice has emerged as a bold and innovative fintech leader redefining access to credit for India’s youth. With a massive user base, ambitious banking aspirations, and evolving regulatory alignment, it is well-positioned for long-term disruption in digital finance.
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