Product: SBI Mini Savings Account
Brand: EKo
Industry: Financial Services
Location: New Delhi
A cell phone is equal to a bank account, wonder how? Meet Abhishek Sinha who promises banking servics to anyone who owns a cell phone. Founder of Eko India Financial Services, Abhishek says “We cater to the financially excluded and unbanked section of the society.” Citing the fact that while over half a billion of the population owns a cell phone; only a minority of these has access to financial services. “We need to tap this market”, says Abhishek. With a strong backing from CGAP (a part of World Bank), EKo has successfully opened more than 400 outlets in Delhi and Bihar since its inception. And it has plans to expand to Rajasthan, UP, Maharashtra, Punjab, Haryana, Gujarat and Rajasthan soon. Equipping the unbanked low income group, Eko has opened more than 50,000 accounts and plans to cover about 35-40 million people in five years time.
| Founder: Abhishek Sinha |
| Co-Founder: Abhinav Sinha |
| Investors: Currently grant funded by The Bill and Melinda Gates Foundation through CGAP (Consultative Group to Assist the Poor) |
| Mentor: Professor Swami Krishnan, Mr. Kim Askjaer |
| Key Clients: SBI, Bharti AXA |
| Top-Line: Rs 8,00,000 p.a. |
| URL: eko.co.in |
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| Manik Thapar |
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