MUMBAI: Tiger World-backed fintech Slice has appointed its founder Rajan Bajaj as managing director and chief govt officer, efficient 17 February, following approval from the Reserve Financial institution of India.
In 2023, former Andhra Financial institution govt Satish Kumar Kalra was appointed chief govt. An individual with direct information of the matter stated Kalra will proceed with the agency in a senior advisory position following Bajaj’s appointment.
The corporate additionally reported a internet revenue of ₹27.97 crore for the primary three quarters of FY26 (April-December), it stated in an announcement, although it didn’t disclose income for the interval.
The revenue marks a reversal from FY25, when the corporate reported a lack of ₹217 crore, largely as a consequence of one-time provisions and better working bills. Slice reported whole earnings of ₹632 crore within the first half of FY26, in contrast with ₹604 crore within the full 12 months FY25.
Within the assertion issued Monday, Slice stated Bajaj beforehand served as govt director of the corporate.
“India is a market privileged to have a few of the world’s best-run monetary establishments. Slice is a younger financial institution constructing to earn its place amongst them, and which means delighting each buyer we serve by doing proper by them in methods they’ll really feel, from repo price on financial savings accounts and curiosity paid each single day to merchandise that at all times put the shopper first,” stated Bajaj. “AI is now reaching the purpose the place it will possibly make banking genuinely private at scale, understanding what every buyer wants and making complicated monetary choices easy. We’re constructing with that future in thoughts, and we expect we’re nonetheless very early in what is feasible.”
Based in 2016 by Bajaj, the buyer fintech startup turned a regulated financial institution after merging with North East Small Finance Financial institution in 2024. Slice serves greater than 20 million registered customers, employs over 3,000 folks, and has raised greater than $250 million from traders together with Tiger World, Perception Companions and Introduction Worldwide.
Slice was amongst a number of fintechs compelled to cease providing credit score traces by way of pay as you go fee devices (PPI) wallets after the Reserve Financial institution of India’s 2022 round. This transfer successfully shut down Slice’s fashionable card providing, which had gained traction amongst youthful Indian customers.
Bajaj earlier constructed Slice’s lending distribution and funds companies below group entity GIPL. In 2019, he additionally established Quadrillion Finance Personal Ltd (QFPL), an entirely owned NBFC of GIPL, which prolonged credit score to retail clients and small companies utilizing technology-led underwriting and danger processes.
Inside a 12 months of commencing full banking operations, greater than 4 million financial savings accounts have been opened with Slice, making it one of many fastest-growing financial savings merchandise within the nation, the corporate stated.
“Rajan (Bajaj) brings first-hand expertise in constructing for the digital buyer and understands how expertise is reshaping the way in which folks entry monetary providers. He has additionally been clear in his ambition to broaden formal credit score and banking entry to those that stay underserved,” stated Eugene Emmanuel Karthak, part-time chairman and unbiased director at Slice.