Sonu Sood partners with Indian rural FinTech Spice Money

By Edil Corneille

Today, Indian rural FinTech firm Spice Money announced that the company has joined hands with actor, humanitarian and philanthropist, Sonu Sood to achieve their mutual vision to digitally and financially empower 10 million rural entrepreneurs.

Since the onset of the COVID-19 pandemic, Sonu Sood’s goal has been to help those in need in the remotest corners of India while Spice Money’s aim has been to strengthen the country’s rural economy through digital empowerment and financial inclusion. Sonu Sood and Spice Money will jointly work towards creating an entrepreneurial mindset in towns and villages. As part of the association, Sonu Sood will own an equity stake in the company and has been appointed as a Non-Executive Advisory Board Member.

Spice Money will ideate collectively with Sonu Sood to design new initiatives and products that will bridge the divide between rural and urban India. The company will also enable select existing programs developed by Sonu Sood during the lockdown period in the country, to be made available on the Spice Money platform.

As a Non Executive Advisory board member Sonu will contribute to building the network of entrepreneurs. He will work with ‘Spice Money Adhikaris’ (entrepreneurs) to develop an appetite for digital product offerings thus, accelerating their digital journey through technology adoption. Sonu Sood will also be seen as Spice Money’s first brand ambassador.

Dilip Modi, Founder of Spice Money enunciated, “Spice Money is on a mission to digitally and financially empower over 1 crore rural entrepreneurs. We are thrilled to have in Sonu Sood, a partner who shares the same passion. We will together enable Indians to harness the power of technology in earning an independent livelihood without having to leave their homes and families. This strategic association will leverage digital solutions and knowledge creation through the Spice Money platform, to promote self-reliance, entrepreneurship and financial inclusion in every corner of ‘Bharat’.”

Sonu Sood elucidated, “I strongly believe that together, we will chart the future for an Aatmanirbhar Bharat… Through my experiences over the last few months, I have gained an eye-opening perspective on the needs and struggles of the people in towns and villages of India. My vision is to make my countrymen, socio-economically independent and self-reliant using technology. My association with Spice Money will help us jointly achieve just that. The company’s technology prowess and extensive reach in the country gave me an unparalleled platform to reach out to citizens in rural India. ”

Since the beginning of its operations in 2015, Spice Money has been focusing on financial inclusion with nearly 90 per cent of its digital ‘Adhikaris’ (entrepreneurs) being in semi-urban and rural India. The company’s endeavour has been to bridge the gap between the served and the under-served, providing digital and financial services to customers at their doorstep. The company mentioned that it has been progressing at a rapid pace, towards covering 18,000+ pin codes, 700+ districts and 5,000+ blocks in India.