The journey of an entrepreneur is a long and lonely one with challenges but filled with determination to make it to the finish line. Believing in the philosophy of starting a business with a purpose is Nikhilesh Tiwari.
Hailing from Kanpur, Nikhilesh was concerned about the existing gap in rural India where people do not have proper access to banking facilities, money transfers, or any other form of technology-enabled micro-financing services. With a vision to empower the rural population and bring them closer to a cashless economy, he started Spay Technology Pvt. Ltd. in the year 2018 along with his co-founder Sunil Dhawan.
Nikhilesh started his professional career in 2007 with Suvidhaa Infoserve Pvt. Ltd. and joined Vodafone M-Pesa in 2015. During his tenure with Vodafone, his work profile demanded several field visits to various parts of peripheral towns in Bihar which exposed him to the stark reality of the digital gap in India. Even though he wanted to do something to reduce the same, his ideas were not taken into consideration. This led him to realize and implement his ideas into developing his own venture and become an enabling entrepreneur.
Spay Technology Pvt. Ltd. is a Fintech company that focuses on empowering the migrant population and the under-served sections of the Indian economy through a wide range of B2B services such as money transfers, Aadhar-enabled payment system, bill payments, travel bookings, recharge, insurance, etc. According to Nikhilesh, “our 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’s neighborhood by reaching extensively to the most needed geographies through our merchants to provide a hassle-free platform for various financial services”.
The company started with 29 people and is worth more than $500 million today. Believing in the team he works with, Nikhilesh made zero layoffs during the most difficult phase of the Covid 19 pandemic and his entrepreneurial journey. His team remained with him and made an eventual leap together once the pandemic was over. With his deep sense of commitment and honesty, he has been able to turn Spay Technology into an award-winning company in a short span of time.
Spay Technology has been named one of the Top 20 BFSI companies of the year 2021–2022 by the CEO magazine and one of the Top 10 Fintech companies of India by CIO Insights. It has also bagged the award of India’s Greatest Brands by the AsiaOne International magazine. Nikhilesh has also been felicitated with the title of Times 40 under 40 by Bollywood celebrity Sonu Sood. The company has received appreciation from the Ministry of Finance in 2020 for its contribution towards building a strong and resilient nation.
Nikhilesh believes, “this is just one- step that we have taken to create something of value. The endeavor is to keep reaching out to the much needy population, understand their challenges and work on developing solutions that will help them become sustainable”.
To know more about Spay Technology Pvt. Ltd., please visit:
https://spayindia.com/
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