Management Consultant, Karl Power, Appointed to Board of Directors for MoneyOnMobile
DALLAS and MUMBAI, April 21, 2017 /PRNewswire/ --
Mr. Power has been a consultant with MoneyOnMobile since 2010
MoneyOnMobile, Inc. (OTCQX: MOMT) announced today that Karl Power, a management consultant for young, fast-growing companies, is joining its Board of Directors.
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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 Inia."
Ranjeet Oak, President and COO of MoneyOnMobile commented, "Karl has been associated with MoneyOnMobile since 2010 and we are happy to announce his inclusion in the Board of Directors. His experience as an investment banker and someone who understand electronic payments will bring a great deal of value addition for growing our business."
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.
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. 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 filed on August 19, 2016. 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.
Web site: http://MoneyOnMobile.in.
Corporate Communications Contact:
Vice President, Corporate Communications
61, MoneyOnMobile House
Ramchandra Lane, Malad West
Mumbai - 400064
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