Sri Lanka’s first electric smart bicycle, Rhoda, receives assistance from Seylan Bank - Opportunity Sri Lanka
Sri Lanka’s first electric smart bicycle, Rhoda, receives assistance from Seylan Bank

Sri Lanka’s first electric smart bicycle, Rhoda, receives assistance from Seylan Bank

Sri Lanka’s first electric smart bicycle designer and manufacturer, Rhoda Life Private Limited, has received an enabling partner through Seylan Bank and the partnership is to open many banking facilities and networking opportunities for Rhoda in its journey as a homegrown, innovative mobility solution.
Commenting on the partnership, Gamika De Silva, Assistant General Manager – Marketing and Sales at Seylan Bank has been quoted as saying, “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. As your bank, Seylan will stand by you – to help unlock your potential. We honour your challenger mindset and will create a supporting eco-system that best suits your venture”.
According to the Seylan Bank, 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 on board 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, shows their commitment to this journey and RHODA is proud to work together with Seylan to make movement within Lankan cities simple and inclusive to everyone,” Eyas Fazul, Founder of Rhoda has stated.
Rhoda provides a timely solution amidst the current fuel crisis and the bicycle is also the only customized smart bicycle. It is also linked to a smartphone app whereby the owner can lock and unlock the bicycle through the phone. In addition, the mobile app also shows the data of the bicycle and ride, acting as a dashboard.

OSL take:

Sri Lanka’s innovation sector is yet another sector that is yet to reach its full potential. With the now globally known ‘Vega’ super car and the latest smart bicycle ‘Rhoda’, Sri Lanka is gearing to capture the international markets with its skilled innovations. The strong trade ties enjoyed by the country by way of trade ties and trade concessions would also help boost the business potential of these products in overseas markets. With Sri Lanka’s overall economic expansion and positioning it as an emerging business destination in the South Asian region, foreign businesses/investors could look at forming partnerships or joint ventures with local innovators in order to increase the business value of the products and expand operations to cover the local and international markets.

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Article Code : VBS/AT/23062022/Z_3

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