Seylan Bank extends banking facility for Lanka’s first electric smart bicycle

Reiterating its mandate to be an ‘enabling partner’ in the growth of all its stakeholders, Seylan Bank, initiated a partnership with Rhoda Life Private Limited, (launched in 2020), the designer and manufacturer of Sri Lanka’s first electric smart bicycle. The partnership will open many banking facilities and networking opportunities for Rhoda in its journey as a homegrown, innovative mobility solution.

Seylan Bank continues to proactively make the most of every opportunity that can offer growth to its stakeholders and the bank considers entrepreneurship and Small and Medium Enterprise (SME) development as priority areas due to the potential these sectors possess in their contribution to the national economy.

Seylan Bank Assistant General Manager – Marketing and Sales Gamika De Silva stated, “Empowering SMEs and encouraging entrepreneurship has been a key focus in our mandate. Seylan was the third largest contributor in the private bank category, supporting SMEs during COVID, and we have continued our projects with these sectors. Partnering with Rhoda is a milestone to us because it highlights Seylan’s promise to our customers, that you are not alone on your journey. We honour your challenger mindset and will create a supporting eco-system that best suits your venture”.

The partnership with Rhoda as official banking partner is not only to provide financial facilities, but also to open up many other opportunities through the Bank’s network and partners. Rhoda will receive banking services that will ensure a smooth flow of business, including access to Point of Sales (POS) machines, Internet Payment Gateways for online payments and collections accounts. The Bank will also offer 0% credit card installment plans and personal loan facilities to support better sales for Rhoda.

“One of the biggest obstacles a startup entrepreneur in Sri Lanka faces is getting support from financial institutions to grow. Seylan truly showed that it is a Bank with a Heart to come onboard this early in our journey of solving urban mobility in Sri Lanka by trying to facilitate our growth through multiple financial tools they possess. A novel 24 month interest free installment plan through their credit card, as well as networking opportunities to amplify Rhoda in terms of communication and media as well,”added Rhoda Founder Eyas Fazul.

By facilitating this business and similar ventures, Seylan Bank is paving the way for many young entrepreneurs, and in a wider spectrum is encouraging them to find solutions to national issues.

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Author: shehan

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