PickMe (IFC-41053)

Countries
  • Sri Lanka
Where the impacts of the investment may be experienced.
Specific Location
Colombo, Kandy
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 11, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Digital Mobility Solutions Lanka (Private) Limited
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 2.44 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 19, 2018

Disclosed by Bank Apr 23, 2018


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Project Description

Digital Mobility Solutions Lanka (Private) Limited (“PickMe”) is a Sri Lankan technology company which provides a ride hailing application that enables customers to hail a vehicle (motor rickshaw, car or minibus) through their smartphone. The proposed investment will support PickMe’s nationwide expansion plans.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

 Mr. Jiffry Zulfer Hassen is the founder and largest shareholder. Other shareholders include Ajit Damon Gunewardene, Lanka Orix Information Technology Services Ltd, Interblocks Limited, H Capital (Private) Limited, and Ruchi Hubert Gunewardene.

Contact Information

Digital Mobility Solutions Lanka (Private) Limited
Ms. Tasnim Salie
Consultant – Corporate Finance
+94117433433
tasnim@pickme.lk
No 309, High Level Road, Colombo 6, Sri Lanka
www.pickme.lk

 

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/