KOKO Makes Winning Debut with Overall Gold at LankaPay Technnovation Awards

KOKO, Sri Lanka’s premier BNPL platform and fintech innovator, won the Overall Gold Award for Excellence in Digital Payments together with three category Gold Awards at the Grand Finale of the LankaPay Technnovation Awards 2026, marking a standout result in the company’s first year of participation.

The event was attended by key leaders from Sri Lanka’s digital economy ecosystem, including Hon. Eng. Eranga Weeraratne, Deputy Minister of Digital Economy, Dr. P. Nandalal Weerasinghe, Central Bank Governor and Dr. Hans Wijayasuriya, Chief Advisor to the President on Digital Economy.

Alongside the top honor, KOKO received Gold for Best Enabler for LankaSign Digital Signatures, Most Popular Digital Payment Solution, and Best Digital Payment App for Retail Payments.

The company was also shortlisted for Best Institution for Financial Inclusivity.

Together, these recognitions highlight KOKO’s growing contribution to Sri Lanka’s digital payments landscape and reinforce its position as a leading force in the country’s evolving fintech ecosystem.

The wins come at a significant moment for both KOKO and the wider industry.

With LankaPay featuring a fintech category this year, it continues to formally recognize the contribution of fintech players to Sri Lanka’s digital payments landscape.

Against that backdrop, KOKO’s performance reflects the scale and relevance of its growth.

During the year under review, the company enabled approximately LKR 4 billion in transactions, recorded 100,000 registered JustPay users, and supported 1,200 merchants on the KOKO system.

KOKO also achieved an 846% year-on-year increase in users and merchants, reinforcing its position as one of the fastest-growing digital payment businesses in the country.

“KOKO’s achievement at this year’s LankaPay Technnovation Awards is a reflection of the progress being made across Sri Lanka’s digital payments ecosystem.

It is encouraging to see fintech innovators contributing in ways that strengthen adoption and improve customer experience, which is directly supporting the continued advancement of inclusive digital financial services in the country,” commented Channa de Silva, CEO of LankaPay.

Today, KOKO serves roughly 2 million users and is available across approximately 6,500 merchants, reflecting the breadth of its presence in everyday commerce.

These figures position KOKO not only as the category leader in BNPL, but also as an increasingly important player in Sri Lanka’s broader digital payment ecosystem.

The recognition also reflects the wider relevance of KOKO’s platform beyond consumer convenience.

The award for Best Enabler for LankaSign Digital Signatures highlights KOKO’s role in supporting trusted digital processes and secure onboarding, while the retail payments and popularity awards demonstrate strong adoption among consumers and merchants alike.

The Overall Gold Award for Excellence in Digital Payments further strengthens the case for KOKO as a platform helping move digital payments into the mainstream.

Commenting on the achievement, Michael Sathasivam, Regional CEO of KOKO, said:

“Winning the Overall Gold Award for Excellence in Digital Payments together with three additional Gold Awards is a significant milestone for KOKO, especially in our first year participating in the LankaPay Technnovation Awards.

This recognition reflects the scale of the progress we have made in building a payment platform that is trusted by consumers, valued by merchants, and increasingly relevant to the future of digital payments in Sri Lanka.

As we approach five years of KOKO, this achievement is both a validation of our journey so far and a strong foundation for the next phase of growth.”

KOKO’s growth story has been shaped by both local market insight and strong ecosystem backing.

Incubated under Daraz, KOKO has grown from an emerging fintech into a category leader with national reach and growing regional ambition.

As it looks to its next phase of growth, KOKO is preparing for regional market entry later this year, positioning it to become the first homegrown Sri Lankan BNPL brand to take its product overseas.

About KOKO

KOKO is a fintech innovator and buy now, pay later payment platform incubated under Daraz, a part of the Alibaba Group.

Since its launch in 2020, KOKO has been focused on enhancing the shopping experience for both merchants and consumers through flexible, interest-free payment solutions for online and in-store purchases.

KOKO is positioned as a personal finance tool that enables consumers to spend responsibly without incurring interest, fees, or extended debt.

By making payments more accessible and manageable, KOKO empowers consumers with greater financial control while supporting a more seamless commerce experience.

Photo Captions

Image 1. The award haul of the Gold “Overall Award for Excellence in Digital Payments” alongside the three category gold awards.

Image 2. Michael Sathasivam, Regional CEO of KOKO receiving the Overall Gold from Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka.

Image 3. The KOKO team; (from L to R) Piyumini Jayawardene (Head of Legal), Fayaz Fazul (Head of Product), Shimry Naizer (Head of Strategic Partnerships and Alliances), Gihan Thakshara (Data and Risk Manager), Luke Perera (Head of Commercial), Dinuki Karunatilake (Head of KOKO), Shennon Perera (Marketplace Manager), Michael Sathasivam (Regional CEO - KOKO), Razik Lafir (Manager - Collections and Care), Zaidh Ishan (Product Marketing Analyst), Uchitha Kotelawela (Manager – Finance Business Partnering), Jonathan Sundersingh (Lead HRBP).