International Finance Corp. to Invest $2.5M in Sri Lankan Ride-Hailing App

Sri Lankan ride-hailing app PickMe is set to receive a $2.5-million equity investment from the International Finance Corporation (IFC), Deal Street Asia reports.

The investment by IFC, a member of the World Bank Group, will help the company expand across the country and increase access to transportation.

Launched in 2015, PickMe users can request a vehicle ranging from an autorickshaws, to a luxury car via a smartphone app. IFC’s investment in PickMe is part of a venture into Sri Lanka, which is expected to attract more domestic and international investments in the country’s technology startups, in addition to other development projects.

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