Proof of Usefulness Report

Ecofin

Analysis completed on 2/6/2026

+156
Proof of Usefulness Score
Gaining Momentum

Ecofin Services Pvt. Ltd. is a verifiable entity incorporated in India (2008) with a functional personal loan app ('Ecofin - Reload Cash'). However, the submission contains significant exaggerations. External data indicates annual revenue of ~$72,000 USD (₹60 Lakh) and a very small team (1-2 directors verified vs. 125 claimed), contradicting the implied scale. The claim that 'most people have used my product' is demonstrably false, with app downloads in the low thousands and a market rank of ~130 among competitors. The project is a standard fintech implementation in an oversaturated market with minimal unique differentiation.

Ready to Compete for $150k+ in Prizes?

Move this data into a HackerNoon blog draft to become eligible for your share of $150k+ in cash and software prizes

View All Reports

Score Breakdown

Real World Utility+9.0
Audience Reach Impact+1.0
Technical Innovation+3.0
Evidence Of Traction+2.5
Market Timing Relevance+3.0
Functional Completeness+0.25
Subtotal+18.75
Usefulness Multiplierx0.83
Final Score+156

Project Details

Description
Ecofin, a cutting-edge fintech product from Ecofin Services Pvt. Ltd., enables short-term personal loans to the young salaried professionals through a simple yet, unique powerful app powered by a proprietary predictive algorithm, assessing creditworthiness profile.

Algorithm Insights

Market Position
Growing utility with room for optimization
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline