Doug Ricket | Source | Founder and CEO at PayJoy

Doug was inspired by his time as a Peace Corps volunteer in West Africa, his work on multiple patents in the pay-as-you-go solar industry, and his work at Google Maps creating the world’s first complete digital map, to launch PayJoy.

After working with his co-founder Mark Heynen at Google, Doug returned to Africa to distribute solar powered products in Gambia. While there, he came up with a new system for paying for the products, which essentially involved setting up installment payment plans for folks who couldn’t afford to pay outright, and the model took off. Ricket returned to the U.S. and after a stint at Stanford’s business school decided to apply the same model to the problem of smartphone connectivity and financial inclusion.

From Mexico to Brazil, South Africa to India, PayJoy is opening the door for millions of people otherwise left to only cash or predatory lending.