MABEL CHACKO dreams big and keeps hustling

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Industry: Financial Services, FinTech

Release Date: 5th August 2021

#Views: 103

Meet Mabel Chacko

She is the Co-Founder & COO of Open Financial Technologies Private Limited (Open) which she co-founded in 2017 with Deena Jacob, Anish Achuthan and Ajeesh Achuthan.

Open is Asia’s first SME focused neo-banking platform that helps businesses automate their payments, banking and accounting functions in one unified service. Open serves more than 10 Lakh SMEs and processes USD 24 billion i.e. nearly INR 180,000 crores in transactions annually. The platform onboards 50,000 new SMEs and startups every month. Since inception, it has raised USD 35 Mn i.e. nearly INR 265 crores across two rounds from leading financial investors.

Mabel has been a serial entrepreneur in the financial technology space for over 15 years now. She chose entrepreneurship straight out of college. Prior to co-founding Open – her 5th start-up, Mabel founded Touch2pay (2006) – India’s first bio-metric payment startup, Cashnxt (2007) – India’s first contactless payment platform, Neartivity Wireless (2010) – NFC based payment platform, and Zwitch (2012) – India’s first developer focused payment platform.

Neartivity Wireless & Cashnxt were recognized as one of ‘Top 75 startups in India to bet on’ by Dare Magazine (2010 ) and ‘Top 10 Product Technology startups in India’ at Headstart 2009.

Cashnxt became a leading mobile payment solution brand and was covered by major international and national media like New York Times, Readwriteweb and Economic Times. Furthermore, it was also covered in KPMG’s report on “Emerging Trends in Banking“ which was presented at the Economic Times Banking Technology conclave in Mumbai. Cashnxt was acquired by a Latin American company in 2009.

Zwitch had over 3,000 startups onboard and recorded transactions of about INR 10 crores per month and was acquired by Citrus Payments in 2015.

Mabel’s core strength are Products, Business Development, Strategic Alliances and Marketing. She has been instrumental in conceptualizing & launching innovative products across all her ventures. For her invaluable contributions in the financial technology space over the years, Mabel was recently conferred with “Fintech Women Leader of the Year Award 2021” by Businessworld, a leading Indian business magazine. She was also conferred with ‘Top 20 Women in Fintech Award’ at Fintegrate 2019 and the ‘Startup Leader of the Year’ by Ministry of Electronics & IT, Govt of India in 2019.

BUT…how did she get here?

Click on the video to know more!

Did you find her story inspiring?

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