Segovia Technology Co. (Segovia) is a financial technology company co-founded by two members of GiveDirectly’s board. GiveDirectly uses Segovia in some programs to issue payments via mobile money networks. The relationship between the two organizations is as follows:

  • Vendor contract decisions are made by independent members of the GiveDirectly team. Contracts between GiveDirectly and Segovia are reviewed and approved by the independent members of GiveDirectly’s board, as required by our policies.
  • GiveDirectly holds a minority non-voting stake in Segovia, which was donated to GiveDirectly by its founders.
  • Segovia was formed by two common board members and co-founders of GiveDirectly, Michael Faye and Paul Niehaus. Michael Faye is president of GiveDirectly and serves on the board of Crown Agents Bank which Segovia merged with in 2019 . Paul Niehaus serves on the board of GiveDirectly.
  • One additional employee, Melissa Harpool, splits her time between the two organizations and is compensated pro rata by each.

More information about the relationship can be found in this blog post.

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