Leadership Expertise on the Global Stage
Rajeev Suri is a veteran of the technology and telecommunications sectors, bringing a wealth of experience into his new role. The most notable leadership roles include CEO of Nokia and Inmarsat, while he currently serves as chairperson at Digicel and a position on the board at Singtel. Suri brings substantial experience leading many global technology companies through times of hyper-change; this will be instrumental in helping M-KOPA scale its fintech offerings throughout Africa and beyond.
M-KOPA was founded on the vision of financial inclusion for underbanked populations. This company has grown into one of the leading players in fintech, with its unique model of financed smartphones and AI-driven credit analytics. To date, the company has reached more than 5 million customers and has extended over $1.5 billion in credit across five markets, positioning itself as a leader in financial innovation for emerging markets.
Suri's Vision for M-KOPA's Future
M-KOPA's CEO and Co-Founder, Jesse Moore, commented by saying, "We are incredibly pleased to welcome Rajeev onto the Board as we enter this next phase of growth for the business. His proven leadership in the steering of international companies through periods of rapid expansion will be invaluable."
The move to M-KOPA presents an exciting challenge for Suri within the bourgeoning Fintech space. As he said:
M-KOPA is one of the most exciting fintech propositions, not just in Africa but globally. Their use of leading-edge technologies and AI to solve the critical challenge of digital and financial inclusion is compelling and has the potential to change the way we think about consumers in emerging markets."
M-KOPA's Model: Financial Inclusion Through Technology
The core business model of M-KOPA focuses on equipping underserved populations with their cutting-edge smartphones loaded with core financial services. This innovative daily repayment model fits nicely into the cash flow patterns of so many underbanked individuals, usually deriving income on a day-to-day basis. By leveraging data on payments and AI-driven analytics, M-KOPA develops credit histories for its customers, forming the base for long-term financial relationships that set pathways toward future economic empowerment.
Leadership Transition
Rajeev's appointment has come at one of the most opportune times when M-KOPA, with its ground-breaking approach to financial inclusions, is already attracting widespread attention in the fintech sector. His experience will help M-KOPA reach more and push through further innovations as it takes up the next level of growth.
Meanwhile, the current Chairperson, Elizabeth Littlefield, is expected to maintain her important position in the firm as an independent board director and committee chair of the ESG and Impact committee. Moore said, "I want to offer my great gratitude to Littlefield for her six-year tenure as chair leading Impact through a truly transformative time of change and growth:
We are immensely indebted to Elizabeth for the great leadership that she has given us over the last six years. She and the board took M-KOPA through some metamorphoses, transformation, and incredible growth."