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

  • Serious flooding across country

    The Kampong Speu provincial Committee for Disaster Management on Wednesday issued an alert after non-stop heavy rain caused widespread flooding. In Koh Kong province, authorities are working with the disaster committee and the Cambodian Red Cross to assist those affected after more than 350 homes were

  • CNRP points to King in call for vote boycott

    Leaders of the former Cambodia National Rescue Party (CNRP) have taken a new tack in their call for a boycott of the national elections later this month. They are now claiming that the people should follow the King, who is expected to abide by tradition

  • Actress’s NGO takes heat for promoting the ruling party

    An actress’s NGO which participated in an election campaign event contrary to the Law on Association and Non-Governmental Organisations (Lango) has been slammed. Chorn Chanleakena, a celebrity and the president of the Association of Artists Volunteering to Help Society, allegedly led its members in

  • Troop moves ‘won’t worry people’

    Senior officials at the Ministry of Defence and National Police said on Tuesday that riot training provided to the country’s police forces were aimed at preventing unexpected demonstrations and strikes before and after the July 29 national elections. The troop mobilisation, they said, would not