Spice Digital

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Spice Digital Limited
Industry
Founded2000; 20 years ago (2000)
Noida, India
FounderBhupendra Kumar Modi
Headquarters,
Number of locations
Noida, Mohali
Key people
  • Dilip Modi (CEO)
  • Deepak Mehta (CFO)
  • Swati Adhikari (CHRO)
ProductsAadhar Micro-ATM, BBPS Utility Bill Payments, MPOS, Insurance, Gold buy/sell, MFI- solutions[buzzword], Enterprise Messaging
ServicesGST Suvidha provider, Travel, Telecom, enterprise solutions[buzzword], Internet of things, m-government services
Number of employees
550
Websitehttps://www.spicedevices.com/

Spice Digital Limited (formerly registed as Cellebrum Technologies) is an Indian telecommunications company headquartered in Noida, India, a subsidiary of Spice Connect. The company specializes in Mobile Value Added Services, along with Telco Solutions, enterprise solutions[buzzword], financial technology, GST Suvidha Provider (GSP), and digital transformation products and services.

Spice Money provides multiple services to merchants and retail counters. Spice Money is available in 7 Indian languages and offers services like money transfer/remittance(DMT), aadhaar based mini ATM, mobile recharges, utility bill payments BBPS, travel booking, MPOS, buy insurance and buy/sell gold. It is involved in micro-payment of services and remittances in real time i.e. where sender provides cash and the recipient receives money electronically in their bank account simultaneously.[citation needed]

History[edit]

Spice Digital was incorporated in 2000 by Bhupendra Kumar Modi with a staff of 13. In July 2006, the company invested Rs 100 crores to soup up its technology and expand its product line and set up a Rs 50 crore incubation fund for startup ventures.[1] By 2006, the company employed 400 people.[2] It revamped its operations in 2007 to enhance its research and development capabilities.[3]

Timeline[edit]

2000:

Company inception - servicing telecom operators in India.

2009:

SDL incorporated Spice VAS Africa (SVA) with a local managing partner.

2012:

SDL started new business units:

  • Data Analytics
  • Financial Services - Spice Money
  • Mobile Internet
  • Mobile Marketing
  • Enterprise Mobility

2013:

Launched B2B Travel & Tourism solution with the business name Spice Money.

2014:

Launched premium e-ticketing platform bdtickets.com in Bangladesh.

2015:

  • Invested in technology firm Creative Function Apps
  • Acquired stake in Anytime Learning Private Limited
  • Received PPI License[4] from RBI
  • Launched mobile wallet 'Spice Money' focusing on domestic remittances

2016:

  • Formed a joint venture with Adgyde Solutions for building analytics-based solutions
  • In principal approval from RBI to operate under Bharat Bill Payment System
  • Created IoT Solutions for smart homes and smart cities

2017:

  • Launched Aadhar enabled payment system services
  • Launched Bharat bill payment system services
  • Expanded businesses in Indonesia and Dubai

2018:

  • In Mid of 2018, Spice Money reached a gross transaction value of $1 billion[5]

Products and services[edit]

Spice Digital received a semi-closed pre-paid payment wallet license from the Reserve Bank of India (RBI) on 9 April 2015. The license was valid up to 30 June 2020.[6][7]

Acquisitions and subsidiaries[edit]

Spice Digital (Africa)[edit]

In early 2010, operations were started in Africa with headquarters in Nairobi, Kenya. In 2013, after massive expansion, the headquarters was shifted to Johannesburg, South Africa.

DiGiSPICE[edit]

Vavia Technology[edit]

On September 5, 2014, Spice Digital acquired 26 per cent (3,514) equity shares in share capital of Bangalore-based startup Vavia Technologies.[8]

Spice Digital has since divested its entire equity stake of 26 percent in Vavia Technologies.[9]

Anytime Learning[edit]

In January 2015, Spice Digital acquired 38.53% stake in Anytime Learning Private Limited, the Noida-based online education provider. Consequently, Anytime Learning has become an Associate Company of Spice Digital.[10][11]

Spice Stellar Mobile Series[edit]

This is a series of mobiles launched by Spice Digital. As of February 2013 this series has five Android smartphones, including a tablet. They are Stellar Xtacy (known as mi-352), Stellar Craze (known as mi-335), Stellar Nhance (known as mi-435), Stellar Pad (known as mi-1010), Stellar Virtuoso (known as mi-495), and Stellar Pinnacle (known as mi-530).[12] Where Xtacy is a low-budget Android phone, the Craze, Nhance and Pad is mid-budget phones and tablet, and the Virtuoso and Pinnacle are high-end multimedia phones. Nhance is also placed in this category because of its features and price.[12]

On 4 July 2014, Spice launched its all-new Stellar 445 budget quad-core smartphone in India.[13]

Spice Mobile launched the new budget smartphone Stallar 405 in India.[14]

See also[edit]

References[edit]

  1. ^ Expansion
  2. ^ "VAS provider Cellbrum to double headcount". 27 July 2006 – via The Economic Times.
  3. ^ "Cellebrum goes for a major revamp".
  4. ^ "Spice Digital Gets Pre-Paid Wallet License From RBI - Networked India". 22 May 2015.
  5. ^ "Spice-Money-Transforms-Digital-Payments-Millions-Users".
  6. ^ https://rbi.org.in/scripts/PublicationsView.aspx?Id=12043
  7. ^ KJ, Shashidhar. "Spice Digital gets a wallet license from RBI - MediaNama". www.medianama.com.
  8. ^ http://articles.economictimes.indiatimes.com/2014-09-09/news/53730950_1_spice-mobility-spice-digital-26-stake
  9. ^ "Spice Mobility up 14% as subsidiary sells 26% stake in Vavia". Moneycontrol.
  10. ^ "Spice Mobility subsidiary acquires 38.53% stake in Anytime Learning". Moneycontrol.
  11. ^ Mukherjee, Riddhi. "Spice Digital picks up 38.5% stake in e-learning venture Anytime Learning - MediaNama". www.medianama.com.
  12. ^ a b http://www.spicestellar.com
  13. ^ http://www.abplive.in/gadget/2014/07/04/article356165.ece/Spice-launches-its-new-Stellar-445-budget-quad-core-smartphone-in-India#.U7awdPmSzTo
  14. ^ Spice Stallar 405 budget smartphone launched in India. tech4me.in