Mumbai, India, 20 September 2022: Spice Money, India’s leading rural fintech that is revolutionizing the way Bharat banks, has been featured in the first-ever episode of “The Great Indian Disruptors” show on Disney+ Hotstar, presented by Digital Refresh Networks. It is a first of its kind show featuring 5 startups that are creating disruption in the country, Spice Money being one of them disrupting the rural fintech industry. The show portrays the journey of Spice Money and how the start-up has been taking major steps towards driving financial inclusion for the last mile in the remotest corners of India.
Rural India, home to more than 65% of the country’s population, does not have easy access to their own money. The show highlights how a huge chunk of the rural population has to travel long distances and spend hours, just to get access to their own money, without any guarantee of getting it on the same day, and then goes on to show how Spice Money started creating a chain of digital entrepreneurs, deep in rural India, called the Adhikari ecosystem to help address this challenge. The episode goes on to highlight the nation-wide lockdown during the pandemic, how the resultant reverse migration affected the rural population, the increasing unemployment in these areas, the growing need of financial services across the hinterlands, and how Spice Money met these challenges head-on. It showcases the efforts put in by the country’s leading rural fintech to help Bharat by introducing the “Zero Investment Business Proposition”, through which rural youth and job seekers can become nanopreneurs and join the Adhikari ecosystem completely free of cost hereby addressing two major challenges, lack of access to banking and financial services along with the growing unemployment rate in rural India. The show also features real Spice Money Adhikaris from across the country who have been working onground in assisting rural customers to get access to banking and financial services.
Spice Money now has a vast network of 10,00,000 Adhikaris (merchants / nanoprenuers) across semi-urban and rural parts of the country who are constantly working towards assisting the rural population to get access to banking and financial services. Spice Money has established an extensive assisted-digital ecosystem that penetrates across 95% of rural pin codes, covering 700 districts, 2,50, 000 villages, 5,000 blocks and serving over 2 crore monthly customers. The show highlights how Spice Money strives to bridge the rural-urban divide and empower the rural population of the country.
Commenting on the partnership, Dilip Modi, Founder, Spice Money said, “We are humbled to be featured in a show that highlights the disrupting stories of leading start-ups in India. As Spice Money remains committed towards driving financial inclusion for the underbanked and underserved rural communities, this show attempts to take that story, the story of real India, to a larger audience. Through this show, people would understand the challenges and opportunities prevailing in rural India and we hope they will come forward and collaborate to empower the rural communities in India, thus moving the needle on the country’s economic growth in a positive direction.”
Commenting on the partnership, Sanjeev Kumar, Co-founder & CEO, Spice Money said,”We at Spice Money have always strived to empower Bharat and provide essential financial services in the hinterlands of the country. The show reminded us of all the challenges we faced, the opportunities we created, the trust we built, and the happiness we have delivered so far. Our whole team is delighted and looking forward to the launch of the show.”
Commenting on the initiative, Barin Mukherjee, Co-founder CEO, DRN said, “The Great Indian Disruptors opens up a different paradigm in brand storytelling. We have been speaking about content on OTT as a key driver for building narratives for brands going forward. This show is the initiation of this journey for us and also establishes DRN’s capability in the content space”.
The show covers the journey of 5 companies, in creating disruptive businesses that have changed the way business is done, and created businesses that impact millions of people across the country.