Success Story

Slice Success Story, From Buy Now Pay Later to a Comprehensive Fintech Platform

Slice Success Story

In Today’s generation Credit cards have become an integral part of our daily lives, offering the convenience of purchasing products in bulk, investment opportunities, and a safety net for unexpected financial needs. However, responsible credit card usage requires users to be cautious about their spending limits and make timely payments to avoid costly EMIs. This is where Slice comes into the picture.

Slice, a Bengaluru-based fintech startup, has introduced a revolutionary approach to transform the credit card landscape. They offer Slice cards, also known as Slice Super Cards, which allow users to split their total dues into three easily manageable payments without any extra charges. Originally founded as a Buy Now Pay Later (BNPL) service provider, Slice has made significant strides in the financial technology industry.

What sets Slice Supercards apart from traditional credit cards is their zero-fee structure. Users can make transactions both online and offline without incurring any hidden charges. Additionally, Slice offers benefits like instant cashback and the ability to transfer rewards to their bank accounts, making it a game-changer in the credit card market.

Slice has also ventured into the rapidly growing UPI payments sector in India, extending its reach across the Indian subcontinent and beyond. The company’s growth and innovative offerings have earned it the coveted status of being among India’s unicorn startups, further solidifying Slice’s position as an exciting and essential player in the financial technology sector.

The Slice Success Story

Slice’s journey began with a profound understanding of the hassles and obstacles associated with obtaining and managing traditional credit cards. 

Founder and CEO Rajan Bajaj, a credit card enthusiast himself, experienced firsthand the challenges faced in acquiring a credit card, particularly for those from middle-class backgrounds in Tier 2 and Tier 3 cities. 

These challenges, coupled with his keen interest in the banking space, ignited the spark of entrepreneurship in Rajan.

At just 22 years old, Rajan embarked on his entrepreneurial journey and established Slice. The primary mission was to simplify financial products for young India. The target audience for Slice includes college and university students, early-stage entrepreneurs, freelancers, and anyone looking to experience the convenience of credit cards without the usual constraints. The average age of Slice customers is 22, reflecting its focus on empowering young individuals to build their credit scores from the ground up.

Slice aimed to address the need for a payment card with a credit line. The card is seamlessly integrated with the Slice app, providing users with valuable insights into their spending patterns, expense reminders, and suggestions to convert dues into manageable monthly EMIs. 

This approach fosters good credit habits and transparency, making credit cards less burdensome and more accessible.

Slice – Products and Services

Slice offers a range of products and services that cater to the diverse financial needs of its customers:-

1. SlicePay:

Launched in November 2019, SlicePay is a student payment card with a credit limit of up to Rs. 1 lakh, designed to assist underserved students and freelancers.

2. Slice Card:

Introduced in 2019, the Slice card has gained immense popularity, with the company issuing over 3 lakh cards per month as of 2022. The average credit limit ranges from Rs. 2,000 to Rs. 10 lakhs, with a focus on providing interest-free installments and enhancing transparency.

3. Purchase Power:

In July 2022, Slice introduced the “Purchase Power” feature, which evaluates each transaction made by users and determines whether it can be executed based on the user’s credit limit or maximum borrowable amount.

4. UPI Payments:

Slice expanded its offerings by launching UPI payments, providing access to a waiting list of 10 million customers.

5. Partnerships:

Slice has entered into strategic partnerships with various financial institutions and organizations, such as Quadrillion Finance Private Limited, DMI Finance Private Limited, and SBM Bank (India) Ltd.

6. Sponsorship:

 In January 2022, Slice announced a three-year sponsorship agreement with the Mumbai Indians cricket team in the Indian Premier League, becoming the principal sponsor and having its logo prominently featured on the team’s official jerseys.

Slice – Vision and Mission

Slice is on a mission to democratize access to credit in India. The company aims to provide credit options to students for purchasing books, laptops, and other essential products with the flexibility to repay in monthly installments. The vision of Slice is to build a transparent, modern, and user-friendly financial platform for the youth of India.

Slice – Unique Features and Benefits

What sets Slice apart from traditional credit card providers are its distinctive features and benefits:

  • Zero Fees: Slice Super Cards come with no hidden charges, making them a cost-effective and transparent choice.
  • Instant Cashback: Slice offers users up to 2% cashback on every transaction, providing immediate financial rewards.
  • Flexibility: Users can split their total amount into three easy payments, making credit card usage more manageable.
  • Transparent Insights: The Slice app provides real-time data on payments, spending patterns, expense reminders, and suggestions for converting dues into EMIs.
  • Empowering Young India: Slice is committed to providing young individuals with the financial tools they need to build their credit scores and achieve their financial goals.

Slice – Funding and Growth

Slice has secured over $341.2 million in funding across 12 funding rounds. Notably, its Series B funding round in November 2021 raised $220 million, propelling Slice into the coveted unicorn status with a valuation of $1.8 billion.

The company has witnessed rapid growth, processing over $265 million (Rs. 2,000 crore) worth of gross transaction value (GTV) monthly. Its user base has reached 12 million, with an ambitious goal of reaching 150 million users in the next 5-7 years. Slice’s focus is on expanding its presence to 24 cities, primarily in Tier 2 and Tier 3 cities.

Slice – Financials

Slice’s financials have shown significant growth, with operating revenue increasing from Rs. 67.7 crore in FY21 to Rs. 283.08 crore in FY22. While the company experienced losses, they grew from Rs. 100.37 crore to Rs. 253.67 crore in FY22.

  1. Financial Performance:
    • Slice’s FY23 revenue: Rs 870 crore (approx. $109 million).
    • Notable increase in revenue compared to the previous fiscal year.
  2. Losses Surge:
    • Losses in FY22 increased 2.52 times to Rs 253.67 crore.
  3. Funding and Valuation:
    • Total funds raised by Slice to date: $340 million.
    • Valuation during Series C round (Nov 2021): Over $1.5 billion.
  4. Founder’s Stake:
    • Co-founder Rajan Bajaj holds an 8.21% stake in Slice.
  5. Merger with North East Small Finance Bank:
    • Announced in February 2023.
    • Slice acquires a 5% stake in the bank for approx. $3.42 million.
    • Small finance bank valued at around $68.4 million.

Slice – Challenges and Adaptations

Slice faced initial challenges in convincing lenders to extend credit to young customers and developing risk management systems. In response to regulatory changes, Slice pivoted from providing credit lines to offering classic term loans through a service called “Purchase Power.”

Slice – Competition

Slice faces competition from other fintech players, including LazyPay, ZestMoney, and KreditBee, all vying for a share of India’s burgeoning credit market.

Slice’s journey exemplifies how innovative fintech companies are transforming the financial landscape in India, making credit accessible and transparent for the country’s youth.

As Slice continues to evolve and expand its offerings, it promises to be a game-changer in the world of digital finance, empowering millions of young Indians to achieve their financial aspirations.

Slice, a prominent player in India’s fintech industry, faces competition from other players offering similar financial products and services. Here, we’ll compare Slice to some of its key competitors to provide a better understanding of how it differentiates itself in the market:

1. Slice vs. LazyPay:

Given below is a detailed Difference and comparison between Slice and LazyPay:

Slice vs. LazyPay
Slice vs. LazyPay


  • Offers Slice Super Cards, a zero-fee credit card with the flexibility to split payments into three easy installments.
  • Provides up to 2% cashback on every transaction.
  • Aims to empower young India and build credit scores from the ground up.
  • Launched UPI payments to expand its offerings.


  • A digital credit platform that allows users to make instant payments and repay later.
  • Provides a “Buy Now Pay Later” (BNPL) option.
  • Offers personal loans, EMI financing, and a credit line to users.
  • Allows users to avail themselves of credit for various online and offline purchases.

Comparison between Slice and LazyPay :

  • While Slice primarily focuses on credit cards, LazyPay offers a broader range of credit and financing options, including personal loans and credit lines.
  • Slice’s zero-fee structure and cashback rewards differentiate it from LazyPay’s BNPL model.

2. Slice vs. ZestMoney:

Given below is a detailed Difference and comparison between Slice and ZestMoney:

Slice vs ZestMoney
Slice vs ZestMoney


  • Offers credit cards with a zero-fee structure.
  • Focuses on providing credit cards with transparent insights and instant cashback.
  • Launched UPI payments to expand its services.


  • Offers digital EMI financing solutions for online and offline purchases.
  • Partners with e-commerce platforms, allowing users to access affordable EMI plans for products and services.
  • Addresses the need for affordable credit in India, particularly for e-commerce transactions.

Comparison between Slice and ZestMoney:

  • Slice focuses on credit cards and UPI payments, whereas ZestMoney specializes in providing EMI financing solutions for e-commerce transactions.
  • Slice’s cashback rewards and transparent insights make its credit cards stand out from ZestMoney’s EMI-based offerings.

3. Slice vs. KreditBee:

Given below is a detailed Difference and comparison between Slice and KREDITBEE:

Slice vs KreditBee
Slice vs KreditBee


  • Provides zero-fee credit cards with the option to split payments into three installments.
  • Focuses on empowering young users to build their credit scores.
  • Offers cashback rewards on transactions.
  • Launched UPI payments to expand its services.


  • Offers instant personal loans and other credit products.
  • Targets young professionals and individuals in need of quick, short-term financing.
  • Provides instant loan approval and disbursement.

Comparison Slice and KreditBee :

  • While Slice primarily focuses on credit cards, KreditBee specializes in instant personal loans and credit products.
  • Slice’s transparent credit card offerings and UPI payments cater to a wider range of financial needs, while KreditBee addresses the need for quick personal loans.

4. Slice vs. Traditional Credit Card Providers:

Given below is a detailed Difference and comparison between Slice and Other Credit Card Providers:


  • Offers zero-fee credit cards with transparent insights, cashback rewards, and UPI payments.
  • Focuses on providing accessible credit to young users and simplifying credit card usage.
  • Allows users to split payments into manageable installments.

Traditional Credit Card Providers:

  • Offer a wide range of credit card options with varying annual fees, interest rates, and rewards.
  • Typically requires a thorough credit history and income documentation.
  • May offer more extensive credit limits and a broader range of benefits.

Comparison between Slice and Traditional Credit Card Providers:

  • Slice’s zero-fee structure and user-focused approach make it more accessible to individuals who may not meet the stringent requirements of traditional credit card providers.
  • Traditional credit card providers offer a wider variety of card options and may be preferred by users with established credit histories and specific spending preferences.

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Frequently Asked Questions (FAQs)

1. What is Slice?

Slice is a Bengaluru-based fintech startup that offers zero-fee credit cards, known as Slice Super Cards, to simplify credit usage and provide accessible financial solutions to young individuals.

2. How do Slice Super Cards work?

Slice Super Cards are credit cards that allow users to make transactions online and offline without incurring hidden charges. Users can also split their payments into three manageable installments without additional fees.

3. What are the benefits of using Slice Super Cards?

Slice Super Cards offer benefits such as up to 2% cashback on transactions, transparent insights into spending patterns, and the ability to convert dues into EMIs if needed. These features aim to make credit card usage more convenient and rewarding.

4. Who is the target audience for Slice?

Slice primarily targets college and university students, early-stage business associates, freelancers, and young individuals seeking access to credit without the stringent requirements of traditional credit cards.

5. How does Slice empower young users to build their credit scores?

Slice focuses on providing a user-friendly experience and transparent insights into spending patterns, helping users develop good credit habits and build their credit scores from an early age.


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