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

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.”

MOST VIEWED

  • Hungarian exposes 90 to Covid in Siem Reap

    The Ministry of Health has discovered 90 people who have been exposed directly or indirectly to a Hungarian man infected with Covid-19. They all are required to quarantine at home and the hospital. The ministry is searching for other affected people. Among the 90, one is the

  • PM: West unfair to Cambodia

    Prime Minister Hun Sen released a message celebrating the International Day of Peace on Monday, saying that some major powers and western countries had been systemically cooperating to put political pressure on Cambodia as they did in the 1970s and 1980s. Hun Sen said pressuring

  • ‘Bad news is an investor’s best friend’ – unlocking investment potential in Cambodia

    It is time to shop. Economic woes provide good pickings for investors if they know where to look The poem If, written by English Nobel laureate poet and novelist Rudyard Kipling for his son circa 1895, is widely perceived as fatherly advice for John who would

  • PM requests Russia’s Covid vaccine

    Prime Minister Hun Sen has requested that Russia provide Cambodia with its Covid-19 vaccine after the former announced it planned on mass vaccinating its population next month. The request came on Thursday through the prime minister’s Facebook page as he met with Anatoly Borovik,

  • First ‘mobile kitchen’ in Cambodia enters service

    A catering company recently rolled out Cambodia’s first “mobile kitchen” – a $50,000 container capable of serving up to 200 people at a time. The kitchen is the brainchild of Seng Hok Heng Catering Services. At 4.4m-high, 6.8m-long and 2.4m-wide (expandable to 6.8m), the kitchen is equipped

  • Kingdom, China rebut basis for US sanctions

    The Council for the Development of Cambodia, the Ministry of Foreign Affairs and International Cooperation, and Tianjin Union Investment Development Group Co Ltd (Tianjin) have responded to US sanctions on Union Development Group Co Ltd (UDG), a Chinese-owned company currently developing the sprawling $3.8 billion Dara