Naren Gupta joins mChek Board of Directors

By siliconindia   |   Thursday, 10 December 2009, 00:55 IST
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Bangalore: mChek, a mobile banking and payments service provider announced that Silicon Valley veteran, Dr. Naren Gupta, Managing Partner of Nexus Venture Partners has joined the Board of Directors of the company. The company also announced that Nexus Venture Partners had led the Series-B financing of the company earlier in the year. Gupta co-founded Integrated Systems (ISI) in 1980 to develop products for embedded software development which went public in 1990. He served as ISI's President and CEO from founding until 1994 and as Chairman until 2000. Integrated Systems merged with Wind River Systems in 2000 and he then served as Wind River's Vice Chairman since then until its acquisition by Intel in 2009. "The opportunity that mChek is looking to serve comes once in a generation and I am excited to work side-by-side with the mChek-team and its business partners to help build a lasting company - one that earns the trust of banks, telecom operators, merchants, consumers and regulators around the world," said Gupta. Gupta also serves on the boards of Red Hat and Tibco Software and several privately-held companies. He has over 20 years of early and early-growth stage investment experience in U.S. and India. Several of his earlier investments have had successful public exits, including Digital Link, E-Tek Dynamics, RightNow, Numerical Technologies and Speedera Networks. He also serves as a board member for two non-profit organizations - the Community Foundation of Silicon Valley and the American India Foundation. "Naren's guidance on the mChek Board will provide the maturity and long-term thinking in the company - which is essential for us, as we strive to earn the trust of our business partners and consumers, as well as helping augment the leadership in management team," said Sanjay Swamy, CEO of mChek. Riding on the explosive growth in the mobile industry, mobile banking and payments are seen as one of the key growth areas - with banking and financial services institutions aiming to leverage the ubiquitous deployment of the mobile phone to drive adoption, lower costs to serve and increase customer loyalty and convenience.