Manu Kaushik Edition: June 26, 2011
EKO India founders Abhishek Sinha and Abhinav Sinha
|EKO India Financial Services|
Founded in: 2007
Founders: Abhishek Sinha, Abhinav Sinha
What makes it cool: Enables those without regular bank accounts to save, transfer funds via mobiles
Sahad's take: The company is in a good space of financial inclusion. It helps unbanked migrant workers transfer money through mobiles. It has the early mover advantage. There is a huge need for this service.
With a wafer-thin margin of 0.025 per cent - 25 paise on Rs 1,000 - EKO needs to keep scaling up. In 2010/11, it had transactions of around Rs 1,200 crore.