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Logo of Phnom Penh Post newspaper Phnom Penh Post - Local startup is selected for fintech accelerator program

Local startup is selected for fintech accelerator program

A Cambodian startup was selected to take part in Startupbootcamp’s three-month fintech accelerator program in Singapore, becoming the second firm from the Kingdom to join the international program in as many years.

Selected from 2,500 applicants worldwide, Cambodia-based Morakot Technology was one of 12 startups chosen to participate in the accelerator program, Startupbootcamp announced in a press release yesterday.

The Cambodian software company, founded in 2014, provides a browser-based digital operating system for banks and micro finance institutions.

Startupbootcamp is a global network of industry-specific accelerator programs with multiple locations around the world, including several fintech-focused locations.

This year’s Singapore-based accelerator will begin on April 10 and provide access to mentorship and investors while also providing $25,000 in funding for living expenses and free office space for six months.

Last year, online accounting platform BanhJi became the first Cambodian startup to participate in the fintech accelerator program, highlighting a growing interest in developing fintech solutions in the Kingdom, according to Sam Hall, Startupbootcamp Fintech Singapore program director.

“Although we’re based in Singapore, we are an Asia-Pacific accelerator and a big part of what we do is to play a role in supporting and developing local ecosystems across the region,” he said yesterday.

“Last year we had a company from Cambodia [BanhJi] on the accelerator, and we’re really happy to be welcoming Morakot this year.”

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