Seylan Bank Gives Rhoda a Smooth Ride – Adaderana Biz English

Expands banking facility and network partnership to Sri Lanka’s first smart electric bike

Seylan Bank, the bank with heart, reiterated its mandate to be an “enabling partner” for the growth of all its stakeholders and initiated a partnership with Rhoda Life Private Limited, the designer and manufacturer of Sri Lanka’s first smart electric bike. The partnership will open up many banking facilities and networking opportunities for Rhoda on its way to a self-developed, innovative mobility solution.

Seylan Bank continues to be proactive in pursuing any opportunity that may offer growth to its stakeholders. The bank goes beyond its traditional role as a financial services provider and focuses on acting as a platform that supports its clients by providing facilities and opportunities, with a particular focus on young entrepreneurs. Seylan Bank considers entrepreneurship and small and medium sized enterprise (SMEs) development to be priority areas due to the potential these sectors have in contributing to the national economy.

partnership comment, Gamika De Silva, Deputy General Manager – Marketing and Sales at Seylan Bank stated: “Empowering SMEs and promoting entrepreneurship has been a focus of our mandate. Seylan was the third largest contributor in the private banking category and supported SMEs during COVID and we have continued our projects with these sectors. Partnering with Rhoda is a milestone for us because it reinforces Seylan’s promise to our customers that you are not alone on your journey. As your bank, Seylan is at your side – to unleash your potential. We respect your challenger mentality and will create a supportive ecosystem that best suits your business.”

The partnership with Rhoda as the official banking partner should not only offer financial relief, but also open up many other possibilities through the network and the bank’s partners. Rhoda will receive banking services to ensure smooth business operations, including access to point-of-sales (POS) machines, internet payment gateways for online payments and collection accounts. The bank will also offer 0% credit card installment plans and personal loan options to support better sales for Rhoda. Additionally, the bank’s network will be opened up for Rhoda to explore new business opportunities, including the reach of its online and offline media.

“One of the biggest obstacles a startup entrepreneur faces in Sri Lanka is getting support from financial institutions to grow. Seylan has truly shown it is a bank with heart to come on board so early in our journey to solving urban mobility in Sri Lanka trying to facilitate our growth through several financial vehicles they own. A novel 24-month interest-free installment plan via her credit card, as well as networking opportunities to expand Rhoda in communications and media as well, show her commitment to this journey and RHODA is proud to work with Seylan to bring the movement to the cities of Lanka for all to make it simple and inclusive,” he added Eyas Fazul, founder of Rhoda.

Launched in 2020, Rhoda bicycles have gained currency by offering a new option for individual mobility as well as the logistics sector, especially as a means of transport for delivery services. With the current fuel crisis threatening such services to continue their business, Rhoda offers a timely solution. The bike is also groundbreaking as the only individualized smart bike. It is connected to a smartphone app that allows the owner to lock and unlock the bike via the phone. In addition, the mobile app also displays the data of the bike and ride and acts as a dashboard. The infusion of technology and creativity makes Rhoda a unique innovation. By facilitating this business and similar ventures, Seylan Bank is paving the way for many young entrepreneurs and encouraging them to find solutions to national problems on a broader scale.

Caption (LR): Gamika De Silva, Assistant General Manager – Marketing and Sales, Seylan Bank and Eyas Fazul, Founder of Rhoda.

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