Spice Money strengthens its chief team to accelerate the company’s growth


Spice Money, India’s leading rural fintech, is boosting its leadership team to realize its aim of becoming the country’s largest rural fintech business.

Spice Money offers retailers and retail counters a variety of services. Spice Money is available in seven Indian languages and provides services such as money transfer/remittance (DMT), Aadhaar-based mini ATM, mobile recharges, BBPS utility bill payments, travel booking, MPOS, and gold buy/sell. It is active in real-time micro payments for services and remittances.

Sanjeev Kumar, who previously served as CEO, has been promoted to Co-Founder & CEO, where he will oversee the company’s strategic business plan, which calls for expansion for both Spice Money and Travel Union.

Rajneesh Arora, who was previously the company’s Chief Innovation and Strategy Officer, has been promoted to Co-Founder and Chief Product and Strategy Officer. He will collaborate closely with the Product and Strategy teams to provide Spice Money’s partners and end-users with unique and world-class experiences.

Sanjeev and Rajneesh will be backed up by a solid team of next-in-line executives with experience in several industries. This strengthened leadership team will drive Spice Money’s next phase of growth by advancing digital and technological innovation, thereby enabling rural India.

Spice Money’s Adhikari (merchants/infopreneurs) network has grown to 8,00,000 people, and its micro-ATM network has surpassed a lakh. The company’s GTV has also increased by 127 percent year over year.

Spice Money has recently entered the rural travel industry with the launch of Travel Union, India’s first B2B rural travel-tech platform, which addresses the primary difficulties faced by rural travel brokers and their consumers.

“Spice Money is all prepared to promote to newer heights of digital and technical transformations,” stated Dilip Modi, founder of Spice Money. This will require a lot of energy and laser-like focus, which our new and intelligent leadership will provide.

Spice Money was formed with the goal of digitally and financially empowering rural India. I’m pleased to have found allies in our Spice Money senior management, who understand and share our vision.

We intend to encourage an entrepreneurial culture through this co-founder strategy, and I am confident that our momentum will be maintained, if not accelerated. Spice Money’s teams will work together to develop the right strategies, plans, procedures, and people to assist us achieve our objective of being India’s largest rural fin tech firm.

With a team of over 700 employees, Spice Money recently received the prestigious ‘Great Place to Work’ Certification, which is one of the most prestigious ’employer-of-choice’ recognitions and is a testament to the company’s incremental efforts toward creating a transparent work culture as well as learning and development.

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