ECONOMYNEXT – Sri Lanka-based ride-sharing company PickMe said it is tying up with Nepal’s FISoft, a fintech company to start a ride sharing app for motorcycles.
The app called JumJum (Let’s Go) will initially launch in Kathmandu, where 40 percent of the 2.5 million motorcyles are said to be used.
“This strategic partnership is the culmination of a long search in South Asia to take our services to another country in the region,” PickMe’s Chief Executive Zulfer Jiffry said in a statement.
“We have done it in a manner that adds value to the Nepali economy, by engaging with an acclaimed Nepalese tech company.”
Motorcycles are in wide use in Nepal accounting for 78 percent of 3.22 million vehicles registered in the country.
“In heralding the arrival of JumJum in Nepal, we witness the convergence of two technological powerhouses: PickMe from Sri Lanka and F1Soft from Nepal,” Biswas Dhakal, President and Chairperson of F1Soft Group said.
PickMe is a company in which Washington-based International Finance Corporation invested 2.5 million dollars in 2018.
“Over the years, PickMe excelled in diversifying their products and services by expanding beyond ride-hailing to being a logistics company and also a pioneer in delivering necessities, especially during crises,” Alejandro Alvarez de la Campa, Country Manager for IFC in Sri Lanka and Maldives said.
“It also became a platform which helped create jobs and new economic opportunities for many, including for women.”
Chairman of PickMe, Ajit Gunewardene said the firm was started 10 year ago, its capacity go across borders was expected.
“The vision was to provide a service that would be of international standards,” Gunawardana said.
“Over the years, PickMe has diligently forged partnerships across the region, and as we venture into the Kathmandu valley, our aspirations have been realised.
“While there will undoubtedly be a learning curve, it serves as a vital stepping stone towards propelling PickMe to greater heights with expansion into new markets.”
Jiffry says the move to Nepal Sri Lanka shows the potential to expand digital businesses in the region, and earn foreign exchange.
PickMe hoeps disrupt the Nepalese digital transportation and also plans to use Generative AI to fine tune service to local habits and consumer patterns, he said. (Colombo/May14/2024)