Sri Lankaâ€™s Fintrex Finance to focus on lending to entrepreneurs
ECONOMYNEXT – Sri Lanka’s Fintrex Finance, owned by Bluestone Capital, a private equity and venture capital company, is prioritizing lending to entrepreneurs and small businesses, which its founder sees as a big force in the economy.
Ajit Gunewardene, its founder and chairman, said it is the creation of entrepreneurs that Fintrex will be best known for.
“We will create more entrepreneurs who are the future base of this economy. It is the small entrepreneur that will grow to be the future success of this nation,” he said in a statement.
“With the right technology and a management team that has the ability to compound capital for investors, we will enable responsible lending and deploy best in class practices to scale our operations nationwide and a build a future for the next generation of leaders.”
Fintrex Finance, a finance company formerly known as Melsta Regal Finance, was bought by Bluestone 1, a subsidiary of Bluestone Capital, from Melstacorp group in March 2018.
“Through Fintrex Finance, we can partner these entrepreneurs who are mostly in the SME sector to tap into these entrepreneurial opportunities and build up a growing economy,” Gunewardene said.
“As entrepreneurs ourselves, we have the knowledge, the expertise and the financial backing that could help these new markets to succeed.”
Gunewardene said Fintrex Finance’s management experience in the corporate environment brings in governance of the highest level to the business.
“There will be transparency, effectiveness, efficiency, and accountability at all levels, and our 100 percent participation and responsiveness with no exceptions.”
Gunewardene said they have put in to place tools, systems and processes required to manage risks, technology to address efficacies, and the expertise to run the organization effectively.
“Thirdly, we have and will ensure the right people with the right competencies are in the right positions to drive this organization properly. Our collective intent is not growth at any cost but growth on a solid and reliable foundation,” he said.