Richard Andrew

A Powerful Journey from Chennai’s Tables to STELLRs Success

Richard Andrew

President & CEO,

Stellr

At the tender age of 13, Richard Andrew embarked on a transformative journey that laid the foundation for a leadership philosophy centred around empowerment and leading by example. It was during his early days, meticulously cleaning tables at the iconic Chennai restaurant “Buhari’s,” that Richard was mentored by a supportive manager, a Muslim gentleman who instilled in him the values of self-belief and growth.
With over 30 years of expertise spanning education, loyalty, prepaid/fintech, and gift cards, Richard Andrew currently serves as the President and Group CEO of Stellr, a cuttingedge FinTech company specialising in prepaid distribution. Under his astute leadership, Stellr has emerged as a distribution network for global giants like Google and Microsoft in the prepaid space.
Beyond his role at Stellr, Richard’s impact is far-reaching. As one of the founder managers of Stellr India, he led the company to industry leadership, establishing a robust presence across 10,000 stores in both the digital and physical realms. His strategic partnerships with major retailers, e-commerce platforms, and general trade divisions have solidified Stellr’s market position.
In his dual role as President and Group CEO of the Stellr Group, Richard oversees activities locally and offshore across the geographies of South Africa, Israel and Bangladesh, contributing to the broader success of the organisation. His expertise also extends to the board of the Tritech Global Group of Companies.
His journey, from humble beginnings in a Chennai restaurant to steering global FinTech enterprises, exemplifies the enduring impact of mentorship and a commitment to leading by example in the ever-evolving technology and business landscape. TradeFlock recently interviewed Richard to delve deeper into his remarkable journey.

In your 30 years of building and scaling companies, what notable achievements stand out in prepaid card distribution?

Our most significant achievements at Stellr include pioneering the introduction of software as a prepaid card (POSA-point of sale activated) and expanding our general trade division. We successfully implemented the hybrid delivery of prepaid content of some of the world’s largest brands.Recognising the potential of India’s informal market, which constitutes close to 90% of the retail landscape, we strategically positioned Stellr for growth. Leveraging our countries fast-growing internet penetration, technology adoption, and its youthful population, we have navigated the nuances of the informal market. Our key accomplishment lies in mapping these factors and effectively delivering prepaid content to large cities and smaller towns through our distribution network. This strategic approach has not only expanded our market presence but also contributed significantly to financial inclusion in underserved regions.

How is your industry evolving, and what sets your distribution approach apart?

The evolution of our industry, particularly in prepaid card distribution, is marked by a distinctive shift from traditional models. Unlike the conventional top-down approach to distributing packaged products, our proprietary patented model is inventory-less and cash flow-positive. In this disruptive approach, no goods or cash exchange hands until the customer completes the payment—a stark contrast to the traditional distribution model. This innovative approach has been a key factor in our success, fundamentally disrupting the dynamics of the industry.

How did you implement key strategies to achieve industry leadership with 10,000+ stores in India?

Leading our organisation to become an industry leader in India with a substantial presence in over 10,000 stores across digital and physical channels is a testament to the collaborative efforts of an exceptional team. Individuals rockstars in our team like Ashim, Parag, Amit, and Kamran have played pivotal roles, and together, we’ve set ambitious sights on expanding to 50,000+ stores. Our unique approach involves an active store percentage and a distinctive feet-on-the-street model, setting us apart from conventional distributors. Key strategies underpinning our success include a meticulous understanding of market needs, leveraging technology as a driving force, adopting a data-driven approach, securing the first-mover advantage, and maintaining a steadfast focus on financial achievement. These strategic pillars align with our overarching financial vision. I extend credit and gratitude to our principal shareholder, Mr. Kirsh, whose instrumental support and belief in the long-term vision have been crucial in navigating the inherent volatility of our business.

Reflecting on your leadership, how do you leverage strengths and weaknesses for organisational success?

I guess leadership comes naturally, right from being a Head-Boy at school or leadership positions in College. My greatest strength is inclusive leadership, which fosters empowerment within the organisation thus turning our weaknesses into strengths. I leverage my leadership skills to inspire teams while actively managing our desires to be right.

As an active investor and startup mentor, what advice do you offer early-stage entrepreneurs?

My role at STELLR demands my fulltime attention and is a full-time role, I try and leverage my limited available time in assisting my family’s office whilst they invest in startups across sustainability, entertainment, and real estate sectors. My advice to entrepreneurs in the early stages is to prioritise clarity of thought and recognise that not every idea is the best. Perseverance is crucial, considering the high failure rate. Statistics indicate that 9/10 startups fail within the first year, with around 35,000 shutting down in 2023. Ensure your concept aligns with market needs and, most importantly, focus on execution. Having a great idea on paper differs significantly from successfully implementing it.

How does Stellr envision shaping the future of the prepaid card industry?

Stellr is set to redefine hybrid and digital distribution in the prepaid card industry. Our innovative patented distribution model and a suite of enhanced products that we are building aims to elevate both the retailer and customers experiences, positioning us as a driving force in shaping the industry’s future.