Spice Money strengthens team by elevating Kuldeep Pawar to CMO

Spice Money strengthens team by elevating Kuldeep Pawar to CMO
Spice Money strengthens team by elevating Kuldeep Pawar to CMO

Spice Money, India’s leading rural fintech revolutionising the way Bharat banks, is gearing up to achieve its goal of becoming the country’s largest rural fintech player by further reinforcing its leadership team. The company has elevated Kuldeep Pawar, who was previously the Head of Marketing to the role of Chief Marketing Officer, where he will support the overall strategic objectives of Spice Money by developing comprehensive marketing and communication strategies. Kuldeep will be supported by a strong team of next-in-line leaders with expertise in various verticals. This robust leadership team will drive Spice Money's next round of growth and further strengthen the brand awareness and positioning of the company in the hinterlands of India. 

Having built brands from scratch over the past 15 years, Kuldeep has extensive experience in classic and modern marketing communications across fintech brands, retail chains and telecom giants to OEM brands. With an experience of handling Brand Management, Consumer Insights & Market Research, Brand Architecture/ Positioning, Communication Planning, Public Relations for brands like Niyo, Jio, Quickheal & Vodafone, his expertise lies in honing brands and their communication strategies so that the right brand message is communicated to the audience. He is extremely passionate about Disruptive Marketing and creating a lasting customer culture. Rural India is a land of diverse dialects, languages, cultures, and social structures.  At Spice Money, Kuldeep has been driving the marketing and brand efforts of the organisation, essentially in the space of Rural Marketing, strategically helping the brand reach out to the citizens of Bharat, through activities including channel marketing, digital marketing, public relations, along with market education, to a culturally and demographically diverse audience, across the length and breadth of the country. 

Sanjeev Kumar, Co-Founder & CEO of Spice Money, said, “At Spice Money, our vision is to digitally and financially empower the unbanked and underbanked population living in the remotest corners of India. Our strong leadership has helped us to step closer towards our vision and bring the underserved rural population to the formal banking sector. I am delighted to welcome Kuldeep to the executive team, who has played an instrumental role in our journey of transforming banking & financial services for the rural population. We will continue to expand our digital services to the hinterlands of India and simplify these solutions for rural customers  through our robust marketing and communication efforts".

Spice Money has scaled exponentially in the past year, with its Adhikari (merchants / nanopreneurs) network nearly doubling to become 10, 00,000 strong and its micro-ATM network crossing over a lakh. The company has witnessed a 4X growth in the last two years in terms of transaction volumes, network growth, customer GTV, and service-fee revenue. The company increased its service-fee revenue by 80% to Rs 341 crore in FY22 from Rs 190 crore in FY22. Spice Money has also expanded its business to the rural travel sector with the launch of Travel Union, India’s first B2B rural travel-tech platform that addresses the key challenges faced by rural travel agents and their customers. 


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