Incorporate in October 27, 1971, it was inaugurated as Mutual Investment and Finance Limited, licensed by the Central Bank of Sri Lanka. In mid September 2002, it was acquired by the Janashakthi Group and was renamed as Janashakthi Finance & Investments limited. The Company re-changed its name to Nextfinance Limited midyear, 2008. The Company was acquired by Aspic Corporation Limited in December 2008 and since then, functions as an independent body.