3 quick questions to Johan Hedén Hultgren, CEO of Swiftcourt, which recently established itself in Sri Lanka. He has a background as a professional soccer player in Trelleborgs FF but ended his career early to study law. During his studies, the idea for what would become Swiftcourt was born. The company offers digital contracts and payment solutions between private individuals and operates in seven European markets.
Why did you choose to establish Swiftcourt in Sri Lanka?
The time was right to establish a presence in Sri Lanka. We have a long-standing relationship with the Kinnevik sphere, which owns the buy-and-sell site Ikman, the Sri Lankan equivalent of the Swedish Blocket. Ikman needed a payment solution to offer its users. We were able to provide it. The fact that Ikman has about 300,000 active users meant that we could immediately reach the necessary volume in our business.
What are the characteristics of the Sri Lankan business community from your experience?
I’ve been there twice in 2024, most recently a month ago. What strikes me is the openness. This applies both to the way visitors are treated and to the Sri Lankans’ appetite for new things. There is a genuine desire for change and development. I also feel that it is much easier to establish yourself and operate in the Sri Lankan business climate compared to the Indian one.
What are the goals ahead for Swiftcourt in Sri Lanka?
We went live a month ago. The establishment is a steppingstone to the rest of South East Asia like Bangladesh, Vietnam and India. We are also looking at the possibility of building up developer expertise in Sri Lanka. Our goal is to become a full-scale payment institution. This will require further development of our technical solutions. We see that we can develop this in Sri Lanka.