Udara BentharaArachchi – Managing Director, Regiis Capital Pvt Ltd, Amarasi Gunasekara – Founding Partner, Regiis Capital Pvt Ltd, Lado Jobava – AVP/Senior Investment Officer Origination and Structuring (Member of the Schroders Group), Blue Orchard Finance Limited, Lee Yan Kit – Head of Origination, Asia, Blue Orchard Finance Ltd (Member of the Schroders Group), Ashan Nissanka – Director & CEO, Assetline Finance Limited, Feroze Ahamed – General Manager – MIS, Planning and Analysis, Assetline Finance Limited, Rengasamy Rajeshkumar – General Manager – Finance & Accounting, Assetline Finance Limited.
In a groundbreaking development, Assetline Finance Limited, the flagship company in the financial services cluster of the David Pieris Holdings (Private Limited), one of Sri Lanka’s top conglomerates has secured a senior loan from the Japan ASEAN Women Empowerment Fund (JAWEF) managed by BlueOrchard Finance Ltd, a leading global impact investment manager. This loan marks several significant milestones, both for Assetline Finance (AFL) and for the non-banking financial institution (NBFI) sector in Sri Lanka.
This transaction is particularly noteworthy as it represents the first fresh loan disbursed to an NBFI by an international lender in the post-COVID environment among many rollover facilities of existing exposures in Sri Lanka. This also signifies the first international loan received by Assetline Finance Limited. The company’s ability to secure international funding from a globally renowned impact investment manager such as BlueOrchard independently endorses Assetline Finance’s financial resilience and the commitment for growth trajectories such as empowering women.
Assetline Finance has been playing a substantial role in bridging the gap between female entrepreneurs and financial inaccessibility of rural women in Sri Lanka. ‘’Liyadiriya’’, a bespoke product for today’s woman, is an initiative, with a special emphasis on cottage industries and home-based ventures pioneered by Assetline Finance. This product is particularly impactful in the North and East, where the female-led entrepreneurship has increased. By fostering financial literacy and technical know-how, Assetline’s tailor made programs not only provide women with the tools needed to grow their businesses but also create sustainable employment opportunities within their communities.
The ‘Deshayata Jawayak’ program, along with safe riding workshops and skills training undertaken by Assetline Finance Limited and the David Pieris Holdings (Private) Limited, inspired women to gain confidence in their mobility in a safe manner, allowing them to balance their versatile roles providing meaningful opportunities, thus promoting financial inclusion, stability and independence.
Reflecting on this significant transaction, Mr. Ashan Nissanka, Director and CEO of Assetline Finance Limited, stated, “We are proud to engage in a strategic collaboration with BlueOrchard, a leading global impact investment manager. This partnership goes beyond funding—it represents a long-term relationship that focuses on capacity building, knowledge sharing, and impactful financing. Together, we are not only strengthening our mission to empower women entrepreneurs and promote financial inclusion but also fostering sustainable growth for communities across Sri Lanka, thereby actively contributing towards the economic growth of the country.”
Regiis Capital acted as the financial intermediary for this transaction, facilitating the successful conclusion of the deal. Regiis Capital, known for its expertise in structuring and advising financial transactions, continues to support growth-oriented institutions in accessing international funding opportunities. “This Transaction is significant in many facets; it is timely as Sri Lanka is in a strong development phase against all odds, it is purposeful as it nurtures the most significant yet understated segment of budding entrepreneurs -women, it reflects the financial resilience and impact commitment of Assetline Finance and above all, it is a classic example of a catalyst with a true development mandate in heart such as BlueOrchard, to come forward and play the part when it’s needed the most!” says the founding partner of Regiis Capital Mrs Amarasi Gunasekara.
BlueOrchard, known for its global leadership in impact lending, has clearly demonstrated its commitment to supporting development in emerging markets, especially during challenging economic conditions with their calculated risk-based investment approach and strategic vision in impact investment. Adding their thoughts on this transaction Mr. Normunds Mizis, Chief Credit Officer of BlueOrchard Finance Ltd. said “it is our pleasure to collaborate with Assetline Finance to further empower women entrepreneurs in Sri Lanka. What is impressive to note is that AFL already has a 25% of their portfolio with female clientele and with the assistance of BlueOrchard, plans to significantly grow this portfolio in the next three years to promote gender equality and women empowerment. We trust this will be a beginning of a long and meaningful relationship between BlueOrchard, AFL and the David Pieris Group”.
A Trusted Financial Partner with a Strong Foundation Assetline Finance operates under the umbrella of David Pieris Group of Companies, one of Sri Lanka’s largest and most diversified conglomerates, with over four decades of successful operations. David Pierid Group has made its mark across various sectors including automotive, financial services, property development, logistics, IT, leisure, aviation and renewable energy. David Pieris Group is the largest automotive company in Sri Lanka and is a market leader in automotive sales, spare parts, and services spanning strong presence across 3,500 touchpoints and its emphasis on after-sales care have been instrumental in promoting empowerment, self-employment, and entrepreneurship across Sri Lanka. The company is rated A- (stable outlook) by Lanka Rating Agency (LRA), underscoring Assetline Finance solid standing in the market and medium-sized presence in the lending sector. Assetline Finance operates an extensive network of 57 branches across the island, providing a comprehensive range of leasing products. The company is licensed by the Monetary Board of the Central Bank of Sri Lanka under the Finance Business Act, No. 42 of 2011, and holds over LKR 40 billion in assets.
BlueOrchard is a leading global impact investment manager and member of the Schroders Group. As a pioneer of impact investing, the firm is dedicated to generating lasting positive impact for communities and the environment, while aiming at providing attractive returns to investors. BlueOrchard was founded in 2001, by initiative of the UN, as the first commercial manager of microfinance debt investments worldwide. Today, the firm offers impact investment solutions across asset classes, connecting millions of entrepreneurs in emerging and frontier markets with investors with the aim to make impact investment solutions accessible to all and to advance the conscious use of capital. Being a professional investment manager and expert in innovative blended finance mandates, BlueOrchard has a sophisticated international investor base and is a trusted partner of leading global development finance institutions. To date, BlueOrchard has invested over USD 11 billion across more than 100 countries. As of December 2023, BlueOrchard supported over 300 million people in emerging and frontier markets with its investments. For additional information, please visit: www.blueorchard.com.