Cut is the 40th unicorn to be printed in 2021. It has entered the desired unicorn club subsequent to raising $220mn from Tiger Global, Insight Partners among others just as Angel financial backers like Binny Bansal. Cut’s business rotates around giving credit to the GenZ and twenty to thirty year olds.
Organizer and CEO Rajan Bajaj has accomplished this achievement at 28 years old. Additionally, the normal age of Slice’s representatives and clients is just 26!
“This was my fantasy when I was at Flipkart… to turn into a unicorn before I turned 30. I initially got going in the portability space which was my obsession however that didn’t work out. What’s more, here we are presently with Slice as a Fintech,” Bajaj tells ET Now.
Cut has turned no less than 6-7 times, and in its most up to date symbol, is attempting to upset Visas. Prior, it was attempting to cause ripple effects with Buy Now Pay Later for twenty to thirty year olds and the GenZs yet didn’t meet with much achievement.
Presently, it has restricted with Visa for pre-loaded charge cards, for a total as low as Rs 2000. It is offering 2% cashback on every exchange, and furthermore assisting those with zero financial record to assemble a FICO rating. The turn is paying off, as Slice’s valuation has hopped 5X in a half year, and it’s transportation 2 lakh cards a month, as against 20,000 simply a year back.
“We intending to make this 10 lakh cards a month a soon as could really be expected,” Bajaj tells ET Now.
Cut’s next enormous trigger could be around UPI. While credit on UPI actually needs to take off, Slice is working with organizations like GPay and PhonePe to acknowledge the Slice cards on their foundation.
Watch the most up to date unicorn on this scene of #StartUpCentral. Here is Slice Founder and CEO Rajan Bajaj’s meeting to ET Now’s Nayantara Rai.
