The past 6 years have presented a very conducive environment for Fintech companies that has led to their major growth in India. Today, India stands in second place after the US in this sector. Even though this growth was booming in urban spaces, it witnessed several limitations in rural India when financial inclusion was still a distant dream. This led to a shift in focus for start-up Fintech players to introduce innovative and user-friendly platforms that would make rural life easier.<\/p>\n\n\n\n
One such visionary and start-up founder is Nikhilesh Tiwari, CEO of Spay Technology Pvt. Ltd. Realising the lack of basic facilities such as money transfers, banking facilities, or any other such technology-enabled micro-financing services in most places in rural India, this Kanpur-based entrepreneur came up with an idea to reduce this gap. Nikhilesh started his career in 2007 with Suvidhaa Infoserve Pvt. Ltd., post which he joined Vodafone in 2015. During this time, he made several visits to peripheral towns of Bihar which became an eye-opener for him. Being a first-time entrepreneur, he was unaware of the challenges of funding and investment. However, keeping his determination alive he was able to connect with the right people in the industry who believed in his vision and helped him establish Spay Technology Pvt. Ltd. in 2018.<\/p>\n\n\n\n
As a fintech company, Spay was established to offer a transparent and focussed digital investment platform for customers. It caters to a number of services such as Money transfers, Aadhaar Enabled Payment systems, Bill payments, Recharge, travel bookings, Insurance, etc., through which they are able to reach out to various geographies and provide a hassle-free platform for financial services. The company has established its network of agents who are the core backbone and is aligned with the organization\u2019s vision to provide the best of services to consumers.<\/p>\n\n\n\n
According to Nikhilesh, \u201cour mission is to focus on where our consumers need it, when they need it, and in what manner they need it. We have built a network of agents and have a presence in our consumer\u2019s neighborhood by reaching extensively to the most needed geographies through our merchants to provide a hassle-free platform for various financial services\u201d.<\/p>\n\n\n\n
The company is today worth more than $500 million and has been named as one of the Top 20 BFSI companies of the year 2021-2022 by CEO magazine as well as one of the Top 10 Fintech companies of India by CIO Insights. It has also bagged the award of India\u2019s Greatest Brands by the AsiaOne International magazine and has received appreciation from the Ministry of Finance in 2020. Nikhilesh himself has been felicitated with several awards as a young and dynamic entrepreneur by various celebrities and dignitaries.<\/p>\n\n\n\n
Nikhilesh always envisioned to develop a solution that would assist every underserved segment of the population and help them lead a hassle-free life. Today, as he brings these solutions to the doorstep of consumers, the company\u2019s success story is a living testament to his passion and commitment towards building a strong and resilient nation.<\/p>\n\n\n\n