Dilip Modi
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Dilip Modi (born 12 March 1974) is an Indian entrepreneur and business executive. He is the chairman of Spice Connect, where he serves as the founder and CEO of Spice Money and founder Global Pay by WSFx.
Early life and education
[edit]Dilip Modi was born on 12 March 1974. He pursued his secondary education in India before moving to the United Kingdom for higher studies. He earned a B.Sc. in Management Technology from Brunel University and completed an MBA in Finance from Imperial College London.[1][2]
Career
[edit]Dilip Modi began his career in the early 1990s. In 1995, he established Modi Telstra, which became India's first mobile service provider and was responsible for the first mobile phone call made in the country.[3] He later founded Spice Communications, a regional telecom provider in India.[4][5]
He was also involved in the creation of some of India's early value-added service (VAS) companies and mobile retail businesses.[6] These ventures contributed to the development of the Spice Group's presence in the telecom sector. Over time, he helped expand the company's mobility businesses to other parts of Asia and Africa.[7]
In 2004–2005, Modi served as the chairman of the Cellular Operators Association of India (COAI).[8] In 2011–2012, he became the president of the Associated Chambers of Commerce and Industry of India (ASSOCHAM).[9][10] In 2011, Dilip Modi was also awarded the “Youth Icon Award” by the Gujarat Chamber of Commerce and Industry.[11]
At the same time, he founded of Ek Soch, a social initiative that promotes innovation in areas such as mobility, education, and the environment.[12]
In 2015, Modi founded Spice Money Limited a subsidiary of Digispice listed on BSE and NSE, a financial technology company focused on rural areas in India. The platform provides banking and digital financial services to underserved communities and operates through a network of local agents called Adhikaris. The company reports serving over 20 million customers per month across 95% of India's rural pin codes through a network of 15 Lakh + Adhikaris. Spice Money is a license holder of PPI and BBPS (Bharact Connect) and Globla Pay.[9][13][14]
WSFx Global Pay Limited ("Global Pay"), formerly known as Wall Street Finance Ltd. a BSE listed company with an AD II license from the Reserve Bank of India, a pan-India network of 21 branches.
In the same year, he co-founded iExponential, a platform that supports businesses using technology-driven technologies in both B2B and B2C markets.[9] Modi is an angel investor and has supported several startups, including Shuttl, AdGyde, Uolo, and Curofy.[12][15]
In 2021, Modi launched Korero Platforms, a company based in Noida, Uttar Pradesh, focused on digital communication services.[16][17] In 2022, he received BFSI Excellence Award, put in spice money.[18]
In March 2025, Dilip Modi was named as Social Entrepreneur Of The Year by The Economic Times.[19] As Chairman of Spice Connect, he has founded both Spice Money and Global Pay by WSFx, which provides forex and cross-border payment services for business and individual customers.[20][21][22]
References
[edit]- ^ "Dilip Kumar Modi - 517214.IN | Digispice Technologies Ltd. - Wall Street Journal". www.wsj.com. Retrieved 2025-05-08.
- ^ "Share Purchase Agreement – Spice Mobiles Ltd" (PDF). Securities and Exchange Board of India (SEBI). 2008. Retrieved 8 May 2025.
- ^ John, Lison Joseph & Satish (2011-10-27). "Spice Group chairman BK Modi back to running business, plans to raise a billion dollars". The Economic Times. ISSN 0013-0389. Retrieved 2025-05-08.
- ^ "Spice Mobility appoints Dilip Modi as chairman". www.domain-b.com. 2014-02-18. Retrieved 2025-05-08.
- ^ "Dilip Kumar Modi: Positions, Relations and Network - MarketScreener". www.marketscreener.com. Retrieved 2025-05-08.
- ^ Sarkar, Ranju (14 December 2010). "BS People: Dilip Modi". Business Standard. Retrieved 8 May 2025.
- ^ SN, Vikas (2014-02-18). "Dilip Modi Takes Over From BK Modi As Chairman of S Mobility". MEDIANAMA. Retrieved 2025-05-08.
- ^ "Dilip Modi takes over as COAI chairman". Rediff. Retrieved 2025-05-08.
- ^ a b c Modi, Dilip. "Dilip Modi - Author Biography". Entrepreneur. Retrieved 2025-05-08.
- ^ "Dilip Kumar Modi - Chairman at DiGiSPICE". THE ORG. Retrieved 2025-05-08.
- ^ Modi, Dilip (2024-12-14). "Aadhaar-Driven Financial Inclusion: Catalyzing Regional Economic Growth in Rural India". Entrepreneur. Retrieved 2025-05-08.
- ^ a b "Dilip Modi-backed Omnia Invests Rs 7 Crore In Education Start-Ups". VCCircle. Retrieved 2025-05-08.
- ^ "Views of Mr. Dilip Modi, Founder & CEO, Spice Money on Jan Dhan Deposits Rising to Rs 2.63 Lakh Crore". APN News. 21 April 2025. Retrieved 8 May 2025.
- ^ "Can Local Heroes Bridge Digital Divide & Unlock Rural Finance? Dilip Modi, Founder & CEO of Spice Money". IBS Intelligence. Retrieved 2025-05-08.
- ^ telenetin (2022-01-28). "Dilip Modi, Chairman and Group CEO, DiGiSPICE, and Founder, Spice Money -". tele.net.in. Retrieved 2025-05-08.
- ^ "DiGiSPICE launches new-age startup Korero Platforms to offer communication platform-as-a-service solutions". Moneycontrol. Archived from the original on 2022-09-01. Retrieved 2025-05-08.
- ^ "News & Updates - Indian Startups, Small Businesses, Founders - BW Disrupt". www.bwdisrupt.com. Retrieved 2025-05-08.
- ^ www.ETBFSI.com. "Blogs by Dilip Modi | ET BFSI". ETBFSI.com. Retrieved 2025-05-08.
- ^ "ET Entrepreneur Awards 2025 – Winners List". The Economic Times B2B. 11 March 2025. Retrieved 8 May 2025.
- ^ "Spice Mobility appoints Dilip Modi as executive chairman". VCCircle. Retrieved 2025-05-08.
- ^ "Dilip Modi Board of Director Membership | BlinkX". blinkx.in. Retrieved 2025-05-08.
- ^ "Global Pay by WSFx (formerly Wall Street) Makes Strategic D2C Debut with Lifestyle Travel Essential Product". Business Standard. ANI. 14 April 2025. Retrieved 8 May 2025.