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Over 100% YoY growth by Sri Lankan startup in Covid-hit year

27 Jan 2021

Advice Lab, a financial planning specialised business process outsourcing (BPO) provider based in Colombo, doubled its growth in the year ending 31 December 2020. Advice Lab services financial planning clients based predominantly in Australia and provides them with paraplanning and back office admin services. It was claimed that during one of the toughest years in economic history, Advice Lab doubled its growth across the board in business and staff numbers. Having been launched only in August 2019, Advice Lab is slated to quickly become one of the leading providers in the financial planning outsourced market globally due to its rapid growth. In addition, based at Hatch Works in Fort, it is also becoming an employer of choice for many potential candidates with its employee-friendly culture. “Our growth is testament to our clients and our people. 2020 was a tough year globally, regardless of size, country, or industry. The fact that we are not only standing, but over two times bigger is thanks to our clients and our staff.” Advice Lab Managing Director Prad Navaratnam stated.  “When the rest of the world and our competitors were downsizing and slowing down, we doubled down by hiring aggressively, promoting staff, and implementing pay increases. We backed ourselves and our clients backed us.” Advice Lab also stated that they are proud to help #RestartSriLanka by continuing to grow and employ Sri Lankan talent, ultimately bringing in foreign revenue.   


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