Thursday, April 20, 2017 — 10:36:00 (EDT)
MoneyOnMobile adds Power to board
Dallas and Mumbai, India, April 20, 2017 -- MoneyOnMobile, Inc. (OTCQX: MOMT) announced today that Karl Power, a management consultant for young, fast-growing companies, is joining its Board of Directors.
Mr. Power is an investment banker and entrepreneur, who specializes in corporate advising and accessing capital markets. He is currently a director for Excel Corp, which provides electronic financial and transaction processing services to merchants across the United States. Previously, Power was an investment banker with several firms, including Merrill Lynch and Paine Webber in New York and London. He was a founding partner of Robertson Stephens LLC, London Office. He also founded and recently sold an in-home physical, occupational, and speech therapy provider in the San Francisco Bay area.
"I believe MoneyOnMobile is in the right place at the right time, and I'm excited to help it navigate the waters of fast growth," said Mr. Power. "I believe that the last seven years of advising MoneyOnMobile and being a director for Excel Corp makes me a unique fit to be a director of MoneyOnMobile."
"Karl has been a great help for MoneyOnMobile as we accessed funding in our early stages to grow our business in India," said Harold Montgomery, Chairman and CEO of MoneyOnMobile, Inc. "We believe his experience in the mature U.S. market of electronic financial transactions will be very useful as we are pioneering mobile electronic commerce in India."
Mr. Power is a graduate of University College Dublin (Ireland), holding both Bachelor of Commerce and Masters of Business in Finance degrees.
Mr. Power will be the fifth member of the MoneyOnMobile, Inc., board of directors, joining Sen. Kay Bailey Hutchison, Harold Montgomery, Jim McKelvey, and David Utterback.
About MoneyOnMobile, Inc.
MoneyOnMobile, Inc. is a global mobile payments technology and processing company offering mobile payment services through its Indian subsidiary. MoneyOnMobile enables Indian consumers to use mobile phones to pay for goods and services or transfer funds from one cell phone to another. It can be used as simple SMS text functionality or through the MoneyOnMobile application or internet site. MoneyOnMobile has more than 325,000 retail locations throughout India.
Source: Company press release.
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