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Spice Money further bolsters leadership team to fast-track growth

Rural fintech company Spice Money is strengthening its leadership team as part of its ambition of becoming the country’s largest rural fintech player. As a step towards this, the company has
elevated Sanjeev Kumar from his earlier role of CEO to Co-founder & CEO, where he will drive the company’s strategic business plan that spells growth for both Spice Money and Travel Union.

Rajneesh Arora, previously Chief Innovation & Strategy Officer, has now been appointed as Co-founder & Chief Product & Strategy Officer. He will work closely with the Product and Strategy teams to deliver unique experiences to Spice Money’s partners and end-users. Sanjeev and Rajneesh will be supported by a team of next-in-line leaders with expertise in different verticals. This leadership team will fuel the next round of growth for Spice Money by furthering digital and technological innovation, thereby empowering every corner of rural India.

Spice Money has scaled fast in the past year, with its Adhikari (merchants / nanopreneurs) network growing to become 8,00,000 strong and its micro-ATM network crossing over a lakh. The company has witnessed a YoY growth of 127% in its GTV as well. Spice Money has also expanded its business to the rural travel sector with the recent launch of Travel Union, India’s first B2B rural travel-tech platform, that addresses the key challenges faced by the rural travel agents and their customers.

Dilip Modi, Founder, Spice Money, said, “Spice Money is all set to move to newer heights of digital and technological transformations. We want to encourage an entrepreneurial culture through this co-founder approach and I am confident that our momentum will be continued and in fact, accelerated.”

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