When Mads Werner first arrived in Vietnam over a decade ago, he didn’t come with a grand plan. He wasn’t here to launch a company, and certainly didn’t expect to become part of the country’s growing innovation landscape.
But over the years, his path organically shifted from working behind the scenes in tech to founding a financial platform that today empowers tens of thousands of blue-collar workers across Vietnam.
In episode 47 of the Vietnam Innovators podcast (English edition), Mads - Co-founder and CEO of Ekko - sits down with host Hao Tran to reflect on his 12-year journey of building a purpose-driven career in Vietnam.
Now a key player in Vietnam’s fintech scene, Mads is also part of a new generation of entrepreneurs working at the intersection of technology, sustainability, and social impact.
Starting Out in Vietnam: From Tech Expert to Workers’ Advocates
Before founding a fintech startup, Mads spent several years working in Vietnam’s technology sector. He played a key role in driving digital transformation at Ecopark, a major real estate group in northern Vietnam. His work focused on optimizing operations for internal teams such as security, landscaping, and building maintenance staff.
It was during this time that he observed a major issue affecting many workers: they were living paycheck to paycheck and had little to no financial cushion for short-term emergencies.
This wasn’t just about wage. It was about a lack of financial flexibility, a dependency on fixed pay cycles and ultimately, risky financial decisions driven by necessity.
Ekko: On-Demand Pay for Everyday Needs
That insight became the spark for Ekko - a fintech platform that lets employees access the wages they’ve already earned, whenever they need them. No interest, no hidden fees, and no debt. Just flexible, transparent access to income.
Launched in 2022, Ekko works by integrating directly with a company’s time-tracking and payroll systems. Once employees clock in, the system calculates their earned wages in real-time. If needed, they can withdraw part of their earnings instantly via the Ekko app - no loan applications, no waiting, no middlemen.
Ekko’s business model is B2B2C: companies implement the platform, but it’s the workers who benefit directly. The result? Better financial wellness for employees, improved retention for employers, and fewer risks tied to short-term financial emergencies.
Just 18 months in, Ekko has already reached over 75,000 workers across Vietnam, spanning sectors like manufacturing, F&B, retail, and services.
Building a Startup in Vietnam: Listen First, Then Scale
Looking back, Mads is quick to point out that building a successful startup in Vietnam isn’t about importing a business model from abroad. It’s about taking the time to understand the local context - how people live, work, and make financial decisions.
For Mads, launching a startup in Vietnam isn’t about copying a successful model from elsewhere. It’s about learning, adapting, and building gradually. Sometimes, it starts with seemingly small details: the stress of an upcoming rent payment, an unexpected hospital bill, or a worker needing just a few hundred thousand dong to pay their child’s school fees.