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

  • Gulf Traffic Q&A: Middle East in Focus
    October 9, 2019
    Gulf Traffic takes place on 9-11 December in Dubai – the centre of business in the Middle East and North Africa. ITS International is the official media partner of Gulf Traffic, and this year the event will highlight the latest technologies and systems from global suppliers. Rahul Rawat, exhibition director, explains how the international industry can benefit from the opportunities that the region provides.
    Read More
  • Vision technology: the future in focus
    November 23, 2018
    Just a few years ago, terms such as ‘embedded’ and ‘polarisation’ were buzzwords. But now they are real and present examples of vision technology in action – and, Adam Hill finds, the ITS industry is waking up to a number of possible applications Every aspect of the intelligent transportation systems industry moves quickly – but developments in camera technology change with a rapidity which can appear quite bewildering. And with ITS providers constantly searching for an edge against fierce competitio
    Read More
  • Optibus believes in unicorns
    May 17, 2022
    Bus scheduling specialist says it's first tech firm in public transport to achieve $1bn valuation
    Read More
  • New markets for travel information apps
    November 26, 2013
    Purpose-designed travel information apps are emerging to support the real estate market in the US – and potentially more widely – in a major diversification away from the conventional automotive and navigation device sectors. In July 2013, Washington State-based Imprev, which develops web-based marketing support aids for realtors, announced its App Generator. Claimed as an industry first, this enables property businesses to create their own branded mobile apps to give away as marketing tools to potential
    Read More

Highlighted Content