IBEF: December 28, 2021
Within seven months, Eko, a fintech platform, has grown by 30% month on month. Previously, the corporation grew its revenue by 12.5 times in four years ending in 2020.
Despite the fact that the company's and its partners' companies suffered a dramatic loss as a result of the statewide lockdowns, Eko chose the digital way to gain and keep consumers over its current offline-only activities. In six months, the company doubled the number of new transacting customers, surpassing the monthly volume of pre-Covid offline acquisitions.
“From pioneering money transfer to devising unique credit products like daily loans with flexible payments to extending the services beyond banking transactions, we like to keep up our spirit of continuous innovation. When Covid presented us with a new challenge, we took the plunge to go completely digital," said Abhinav Sinha, co-founder Eko.
By 2026, the firm hopes to have helped over 10 million micro and solo entrepreneurs, and it has expanded its intellectual and financial landscape to include more than 100 products and services on its platform.
"The company has served the needs of 35+ million customers with the help of over 250K entrepreneurs in over 100 cities of India. Processing over US$3.4 billion transactions in FY20, the company has achieved a 50% reduction in cost at a 2x volume in 4 months of digital marketing. Moreover, the company has successfully doubled its organic volume of leads with exceptional efforts in the last 2 months. Eko is actively hiring for product, engineering, operations, and marketing roles as well," Eko said in a statement.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.