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Slicing Through the FinTech Noise: Ranjan Bajaj In a country where credit card penetration remains stubbornly low, one startup has managed to carve out a significant niche. Slice, founded by Ranjan Bajaj in 2016, has rapidly become a force to be reckoned with in India's fintech landscape. Bajaj's journey with Slice began with a simple observation: young Indians were largely underserved by traditional banking systems. Fresh out of college, many found it nearly impossible to access credit. Slice's solution? A card tailored for this demographic, combining the benefits of a credit card with the ease of a UPI payment. But having a great idea is only half the battle. Bajaj's true skill lay in his ability to convince investors of Slice's potential. His fundraising journey is a masterclass in persistence and vision. The early days were tough. Bajaj bootstrapped the company, pouring his savings into building the initial product. His break came in 2019 when Slice raised $6.5 million in a Series A round led by Gunosy Capital. This early validation allowed Bajaj to expand his team and refine Slice's offerings. However, it was the Covid-19 pandemic that unexpectedly accelerated Slice's growth. As digital payments surged, so did the demand for Slice's products. Bajaj capitalized on this momentum, raising a whopping $20 million in a Series B round in 2021. But Bajaj wasn't done. Later that same year, he pulled off a coup that stunned the fintech world. Slice raised $220 million in a Series B extension round led by Tiger Global and Insight Partners, catapulting the company to unicorn status with a valuation of over $1 billion. In a recent development, Slice has demonstrated its ability to attract debt funding as well. The company raised Rs 65 crore (approximately $8 million) in debt from Neo Markets, marking its second debt investment in 2024. This move, involving the issuance of non-convertible debentures, showcases Bajaj's strategic approach to diversifying Slice's funding sources. This latest debt round, part of a larger $30 million debt raise, underscores investor confidence in Slice's business model and growth trajectory. It also highlights Bajaj's skill in balancing various forms of capital to fuel Slice's expansion while maintaining equity dilution. What set Bajaj apart in his fundraising efforts was his ability to articulate Slice's vision. He wasn't just selling a product; he was selling a revolution in how young Indians access and use credit. His pitch resonated with investors who saw the vast untapped potential in India's youth market.Bajaj's approach to investor relations has been refreshingly transparent. He's been open about Slice's challenges and setbacks, building trust with backers who appreciate his honesty. This approach has fostered long-term relationships with investors who have stuck with Slice through multiple rounds. As Slice continues to grow, all eyes are on Bajaj to see what he'll do next. If his track record is anything to go by, we can expect more innovative products and perhaps even more impressive fundraising rounds in the future, potentially combining both equity and debt strategies or who knows, maybe even an IPO!