Dilip Modi, Chairman and Group CEO, DiGiSPICE, and Founder, Spice Money
Dilip Modi’s association with the Indian mobility and technology space spans over two decades. As a second-generation entrepreneur, he has pioneered several new innovations alongside building a strong portfolio of businesses. He is currently chairman and group chief executive officer (CEO) at DiGiSPICE Technologies alongside being the founder of Spice Money, Travel Union, and Korero Platforms. “I see technology as a great enabler and disruptive force that has the ability to foster financial and digital inclusion and this can be seen in the missions of the three new start-ups – Spice Money, Travel Union and Korero Platforms,” he says.
Apart from handling three start-ups, Modi mentors and supports young emerging leaders and has invested in a number of promising start-ups including Shuttl, AdGyde, Uolo and Curofy. “I strongly believe that a country can reach great heights if everybody has an entrepreneurial spirit in them,” he says.
Modi aims to spearhead the financial inclusion journey for India and make financial services available in the remotest parts of the country. Currently, he is working on achieving this goal through Spice Money, a rural fintech start-up that provides basic banking services to underserved communities. “To begin with, Spice Money is building India’s largest micro-ATM network and has successfully established 100,000 micro-ATMs across India,” says Modi. He also intends to improve the ATM infrastructure with the help of banking correspondents, to facilitate access to cash for the cash-driven rural population.
Modi likes to remain abreast with new technologies and business dynamics, and constantly learns and absorbs information. “I believe that one must keep learning every day and be aware of their surroundings so as to address weaknesses,” he says.
He considers himself a democratic and trusting leader who has a lot of faith in the abilities of his team members and stakeholders. “My team’s skills and abilities are my building blocks. Hence, I believe that I can grow and overcome challenges no matter how difficult they are.”
Modi has a BSc in management technology from Brunel University, London, and an MBA with a specialisation in finance from the Management School, Imperial College, London. In the past, he has served as chairman, COAI, and president, ASSOCHAM.
Modi practises yoga and meditation. Over the past two years, he has also developed a reading habit. On weekends, he enjoys watching movies with his family.
