CEO & Co-Founder, Rise
Search every verified Padmini Gupta interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Padmini Gupta, CEO and co-founder of Rise and the Xare app, has described her work on financial services for migrants. She stated that Rise was created to build a financial platform for migrants, providing access to accounts, loans, insurance, and investment products. Gupta noted that the company later developed Xare, an app that allows cardholders to share their card access with others by creating a link with specified limits, rather than sending money through traditional remittance. She said the app had over three million users and was available in over 180 countries as of 2023. Gupta has described her background as including over a decade in banking in California, an MBA from Oxford, and a role as a World Economic Forum Global Leadership Fellow. She has stated that the purpose of Xare is to "reclaim that soul of banking for everyone" and to allow income earners to share financial resources with those who do not earn an income. In a 2019 poetry performance, Gupta recited a poem titled "Till I Die" from the perspective of a mother addressing her daughter, describing various parenting decisions and concluding with the line, "you will always be my baby and I, your sanctuary."
“Rise was born out of the idea to build a financial platform for migrants helping them gain access to accounts, loans, insurance and investment products.”
“Remittance as a product hasn't changed in 60 years; it still involves moving money and spending money to move money.”
“Banks see them as risky in a small ticket and so it's not within their wheelhouse to serve these migrants — the result is that 70% of the working population in the country is actually locked out of formal financial system both here and in their home countries.”
“What we learned is that people wanted accounts, not apps — their phone storage was taken up by apps like WhatsApp, Facebook, YouTube — so we moved the entire thing over to a chatbot over Facebook Messenger and by June of that year we'd added over a thousand customers a month.”
“Share allows anyone anywhere to share their cards with their loved ones — specify limits, control what happens with the money, who gets how much, and have visibility on where that money is being spent.”
“We don't bypass any security measures by the financial institution itself — if the bank doesn't feel a transaction is kosher they will contact you — but cards are actually being shared within trusted networks and we're allowing that behavior to happen in a much more secure and transparent way.”
“India is a huge market and UPI has become the ubiquitous payment system...it's a closed loop system with access only available to people holding an Indian bank account — millions of non-resident Indians are locked out and bringing RVE into the Share fold allows us to build rails to let them access it at scale.”
“The purpose of Share is to reclaim that soul of banking for everyone and to empower the one-third of the population that earns an income to share their financial resources with the two-thirds of the population that does not.”
“Rise was born out of the idea to build a financial platform for migrants, helping them gain access to accounts, loans, insurance and investment products.”
“For most of these countries they don't give loans to non-residents — for example in India the Central Bank actually prohibits loans to Indian migrants.”
“Seventy percent of the working population in the country is actually locked out of the formal financial system both here and in their home countries.”
“Remittance as a product hasn't changed in 60 years — migrants don't need money sent, they need spending capacity; that's actually how Share was born.”
“We moved the entire thing over to a chatbot on Facebook Messenger — by June we were adding over a thousand customers a month and eventually chatted with over half a million users, about five percent of the UAE population.”
“Share allows anyone anywhere to share their cards with their loved ones: set limits, control what happens with the money, and have visibility on where that money is being spent.”
“We do not bypass any security measures of the financial institution — cards are already being shared within trusted networks, and we're simply replicating that behavior in a way that is much more secure and gives greater transparency and control.”
Padmini Gupta is an award-winning banker and a World Economic Forum Global Leadership Fellow, who is now re-imagining ...
Padmini Gupta is an award-winning banker and a World Economic Forum Global Leadership Fellow, who is now re-imagining ...
The onset of the COVID-19 pandemic has strengthened Padmini Gupta and Milind Singh's vision for the Xare app, "We hope Xare plays a pivotal role in helping shape that world of future- a fairer, financial world, a world which is more compassionate, and a world where more people are able to help each other out.” Read more: http://entm.ag/mxiBOz
Here is the first video from our first Poetry Slam event at the Moods Community... Padmini expresses the relationship of a mother with her daughter in a beautiful and heartfelt poem. Location Courtesy - Song of Woods, Alipore, Kolkata Video shot by - Punit Agarwal / photographerpunit Video edited by - Bhumika Pagaria / bhumika_pagaria Follow us for updates about upcoming events and content: / poeticleap / poeticleap
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