Mr Paresh Rajde recognized by IFC as an Inclusive Business Pioneer
IFC Report Highlights Suvidhaa Infoserve as a Business that Creates Opportunity at the Base of Pyramid.
- (1888PressRelease) October 13, 2012 - Suvidhaa Infoserve Pvt Ltd (SIPL)is proud to announce that its Founder MD and CEO, Mr. PareshRajdehas been recognized by IFC (International Finance Corporation) as an Inclusive Business Pioneer.
Mr. Rajde, alongwith 13 other inclusive business entrepreneurs across the world features in a report released by IFC on 10th October, 2012, Being the Change: Inspiring the Next Generation of Inclusive Business Entrepreneurs Impacting the Base of the Pyramid. This reporthighlights the personal stories of the leaders of some of IFC's inclusive business clients. These clients have developed innovative and successful business models that expand access to goods, services, and livelihoods for those at the bottom of the global economic pyramid, while generating strong financial returns.
The report identifies a number of lessons on inclusive business, including the need to balance short-term returns with long-term goals and the importance of knowledge of local conditions, needs, and capabilities. The stories also reflect the overarching optimism these leaders share about the future of inclusive business. It further recognizes Leadership, local knowledge, and financial sustainability as key components in creating opportunity at the base of the economic grid.
"By bringing low-income producers and consumers into their supply chains, these companies are pioneers," said IFC Vice President, Business Advisory Services Nena Stoiljkovic. "Creating inclusive business models in developing economies is a top priority for IFC, and critical in building prosperity."
Since 2005, IFC has invested over $7 billion in more than 300 companies that focus on inclusive business models in over 80 countries, reaching 250 million people. IFC aims to increase the number of financially sustainable, inclusive business models operating at scale to help address the issue of access to goods, services, and livelihoods for billions of low-income people.
Suvidhaa Infoserve Pvt Ltd (SIPL)was founded in 2007 by Mr. Paresh Rajde with an objective of providing the common man the freedom from inconvenience. The innovative business model of SIPL uses modern technology to address the needs of consumers who transact in cash. The consumers can avail of over 300 services across categories like utilities, telecom, entertainment, travel and financial services in their local vicinity. This highly inclusive business model hasbrought about a radical change in the way people make payments, purchases, remittances across services provided by Suvidhaa. SIPL has so far catered to over 10 million people across 2800 towns in India through anever increasing network of over 55000 retailers.
The comprehensive report, including previous publications, and case studies, issued by IFC can be accessed on www.ifc.org/inclusivebusiness.
About Suvidhaa Infoserve Private Ltd.
Suvidhaa Infoserve Private Ltd. (Suvidhaa) is headquartered in Mumbai, India. It offers individuals the means to make electronic payments-online and over their mobile phones- for a variety of virtual products and services, making payments more convenient and less costly and expanding consumer choice in the marketplace. The company was founded in 2007 and currently employs over 200 staff with experience in retail payments, e-commerce, and technology. Suvidhaa's shareholders include the company's founder Paresh Rajde; angel investor Shapoorji Pallonji Mistry; Norwest Venture Partners; Reliance Venture Asset Management Ltd.; IFC and Mitsui & Co., Ltd.
About IFC:
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world's most pressing development challenges. For more information, visit www.ifc.org.
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