Business

Kapruka to launch ‘Platform Services’

Kapruka, the locally owned global e-commerce platform, is to launch the “Kapruka Platform Services”, which will carry its new initiatives.

This new initiative of the e-commerce platform anticipates to upgrade this technology and their infrastructure through its share insurance.

This comes at the brink of the Initial Public Offering (IPO) of Kapruka, through which the company aims to raise Rs. 505.5 million at the Colombo Stock Exchange (CSE). The company’s intention is to list on the Main Board of the CSE, becoming the first-ever listed e-commerce company in Sri Lanka.

Kapruka was launched in 2002 as a start-up by its founder Dulith Herath, and now provides a marketplace for Sri Lankan brands such as Dilmah, Samahan, and Akbar Tea on global platforms such as Amazon, Etsy, eBay, and Walmart along with a range of products from bakery items to floral arrangements.

The company accepts payment methods including mobile pay and cryptocurrencies despite the fact that it has not been recognised as a payment method by the Central Bank of Sri Lanka  (CBSL).

Through the Kapruka Global Shop Service, Kapruka has set up global offices in many countries such as the US, the UK, and Australia, expecting to enter their phase of growth through Kapruka Platform Services.