IFC invests in PickMe to improve Sri Lanka’s transportation links

The International Finance Corporation (IFC) is investing $2.5m in Sri Lanka-based ride-hailing company PickMe, whose taxi app allows users to request auto rickshaws and luxury cars. Amena Arif, IFC country manager for Sri Lanka and Maldives, says the country has the potential for a digital start-up ecosystem but has been held back by a lack of global funding. IFC says only 5% of start-ups get cash-for-equity seed funding to raise their first significant round of venture capital. IFC’s venture cap
June 19, 2018 Read time: 1 min
The International Finance Corporation (IFC) is investing $2.5m in Sri Lanka-based ride-hailing company PickMe, whose taxi app allows users to request auto rickshaws and luxury cars.


Amena Arif, IFC country manager for Sri Lanka and Maldives, says the country has the potential for a digital start-up ecosystem but has been held back by a lack of global funding.

IFC says only 5% of start-ups get cash-for-equity seed funding to raise their first significant round of venture capital.

IFC’s venture capital group invests in growing companies that offer technologies or disruptive business models focused on emerging markets.

Urban Traffic Control

Related Content

  • Q&A: Why has Almaviva bought Iteris?
    January 17, 2025
    US-based ITS sector veteran Iteris has been bought for $335m by Italian digital specialist Almaviva. But who exactly is the new owner and what does it want? Adam Hill finds out…
    Read More
  • Tolling: it’s time to open up
    May 24, 2023
    Europe sees more and more tolling schemes being implemented based on GNSS technology and an ‘open marketplace’ model. What are the drivers behind this trend and do those schemes show how toll systems will look in the future? Peter Ummenhofer of Go Consulting goes out on the road
    Read More
  • Seamless transport - the need for connectivity and sustainability
    January 24, 2012
    At the beginning of August, 2011, Carole Coune took up her new role as Secretary General of the International Transport Forum at the OECD. Here, she tells ITS International of the challenges and opportunities the global sector faces. Transport is a growth industry. Despite the current financial crisis, the trend for transport is pointing upwards. Demand is mainly driven by global economic integration, a growing world population and rising incomes in emerging economies. As we head toward nine billion humans
    Read More
  • Seamless transport - the need for connectivity and sustainability
    February 6, 2012
    At the beginning of August, 2011, Carole Coune took up her new role as Secretary General of the International Transport Forum at the OECD. Here, she tells ITS International of the challenges and opportunities the global sector faces
    Read More

Highlighted Content