Skip to main content

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.

Related Content

  • Sanef wins Mersey Gateway Bridge Free Flow toll system
    April 28, 2014
    Sanef Group has announced the financial close of the Mersey Gateway project in the UK, after Halton Borough Council signed agreements with the Merseylink consortium for the construction and the maintenance of the new bridge and its associated toll system, as well as for the toll operation and demand management.
  • Volocopter completes first Saudi eVTOL flight
    June 30, 2023
    Urban air mobility firm is collaborating with Neom smart city development in Saudi Arabia
  • Calculating the cost of stellar solutions
    August 10, 2016
    The increasing availability and accuracy of global navigation satellite system (GNSS) is opening up low-cost options in many areas as David Crawford finds out. Boosting commercialisation of European global navigation satellite system (EGNSS) technologies for ITS initially depends heavily on demonstrating competitive and cost/benefit advantages obtainable from the deployment of EGNOS (the current European Geostationary Navigation Overlay Service), and ultimately the EU’s Galileo constellation (see box). So,
  • Robin Chase interview: Heaven and hell
    June 13, 2018
    A shared vision - or even much of a conversation at all - about what a better mobility balance looks like has been lacking…until now. Andrew Stone speaks to Zipcar founder Robin Chase about fairness – and the importance of not demonising cars