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Calpian plans to grow Indian-based subsidiary, Money-On-Mobile with funding from prominent Silicon Valley executives led by Babu Sivadasan.
Dallas, TX (PRWEB) February 24, 2014
Calpian Inc. (OTCBB: CLPI) announced today that a team of Silicon Valley executives led by Babu Vinod Sivadasan, Executive Vice President, Product Development of Envestnet, Inc. and co-founding CTO of Stamps.com has made a significant investment in Calpian to fund the growth of Money-On-Mobile, Calpians Mumbai, India based mobile payment processing platform.
Mr. Sivadasan is a native of Kerala, India and currently resides in Californias Silicon Valley area, and has been directly involved in catalyzing the success of several start-up companies during his career.
I have known about Money-On-Mobile for some time and believe that it has the winning recipe for the Indian market. I visited the company in November 2013 and came away impressed with the team and their impressive ability to execute the concept and generate consistent consumer growth and retail proliferation. Money-on-Mobiles growth speaks for itself and I am looking forward to helping the company in the next phase as the company scales to be part of daily life in India in coming years, said Mr. Sivadasan.
We are very pleased to see an experienced entrepreneur of Mr. Sivadasans stature become involved in Calpian and Money-On-Mobile in a significant way, said Harold Montgomery, CEO of Calpian, Inc.
Babu Sivadasan brings a level of expertise, resources and experience which will be very helpful as we grow to meet the demand for mobile payments in India, concluded Shashank Joshi, Managing director of Money-On-Mobile.
About Calpian, Inc.
Calpian, Inc. (OTCQB: CLPI) is a publicly traded company with corporate offices in Dallas, Texas and mobile payments emerging-market operations through its subsidiary in India. Calpians Indian subsidiary offers Money-On-Mobile, a pre-paid mobile payment solution, to more than 176,500 Indian retail locations with over 82 million unique users. Calpians management team has over 70 years in combined experience in the payments business. Calpians CEO, Harold Montgomery, is a recognized industry leader who has provided expert testimony to the U.S. Congress and Federal Reserve Bank on payments-related issues and regularly appears in numerous industry publications, such as Transaction World Magazine. Please visit our website at http://www.calpian.com for more information.
Note to Investors:
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K-A filed on April 30, 2013 and the Form 10-Q filed on August 14, 2013. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
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