Sri Lanka’s e-commerce sector has surpassed a valuation of USD 2.5 billion, exhibiting an impressive annual growth rate exceeding 20%. However, the area of classifieds and resale remains largely disorganized and lacking sufficient protection for users.
In response to this market gap, Anika Wijesuriya launched MO Marketplace in June 2024, marking the first locally developed platform designed to address these challenges. This innovative application integrates escrow-secured payment systems, comprehensive delivery options throughout the island, and offers the lowest published commission rate in Sri Lanka, all within a single mobile interface.
Since its inception, MO Marketplace has achieved significant milestones, including 45,000 downloads and 14,000 registered users within just 18 months. The platform has also recorded peak monthly active users numbering 15,000, with impressive ratings of 4.4 and 4.5 stars, respectively.
The platform’s commission structure stands out as its most significant competitive advantage. While major competitors typically charge small and medium-sized enterprises (SMEs) between 15% and 30% per transaction, MO Marketplace offers a flat commission rate of 10% with no hidden charges. This difference is crucial for small businesses struggling with margins in a post-crisis environment.
Another essential aspect of the platform is its trust framework. Payments are securely held in escrow until the recipient confirms delivery, and the application facilitates managed pickup and drop-off, streamlining the entire transaction process.
Looking ahead, MO Marketplace plans to elevate its offerings further with the introduction of AI tools set to launch in mid-2026. These tools will automatically generate product descriptions and enhance images, while a new video-driven selling feature, inspired by the successful TikTok Shop model in Southeast Asia, will enable sellers to convert content directly into sales—an option currently unavailable in the Sri Lankan market.
Traditionally, Sri Lankans have engaged in buying and selling through channels such as WhatsApp groups, Facebook posts, and informal word-of-mouth. MO Marketplace represents a significant advancement, as it provides the necessary infrastructure to formalize these practices effectively.
Image caption: Anika Wijesuriya, founder of MO Marketplace, engaged in discussions with her team members.
Image caption: The dedicated team behind MO Marketplace’s success, boasting 14,000 registered users.
