Logo of Phnom Penh Post newspaper Phnom Penh Post - Smart Axiata takes food delivery player Nham24 under its wing

Smart Axiata takes food delivery player Nham24 under its wing

Content image - Phnom Penh Post
A Nham24 delivery driver rests on his scooter before making a food delivery last year in Phnom Penh. Hong Menea

Smart Axiata takes food delivery player Nham24 under its wing

The Smart Axiata-backed Digital Innovation Fund (Sadif) has acquired a minority stake in Nham24, one of the Kingdom’s leading online food delivery services, a press release said on Tuesday.

Nham24 founder and CEO Borima Chann said with the additional funding, the company will continue to focus on delivering the best possible customer service and boost partnerships with local restaurants.

“We look forward to collaborating with Sadif to grow our business and strengthen our market position,” he said.

Nham24 becomes the third company added into Sadif’s portfolio of promising locally-based digital businesses.

Established in 2016, the service has grown to become one of Cambodia’s largest and fastest growing food delivery platforms. It currently operates in Phnom Penh and Siem Reap, and collaborates with over 550 restaurants.

Sadif’s capital injection into Nham24 is expected to assist in expanding the company’s footprint by helping to increase partnerships and aid in developing the latter’s platform.

Smart Axiata CEO Thomas Hundt said that Nham24’s rapid growth and its desire to revolutionise food ordering and delivery services is truly encouraging.

“I look forward to seeing Sadif’s investment in Nham24 taking shape,” he said, adding that investing in the company will provide Smart with various synergistic opportunities.

Smart has been making a push recently to offer subscribers a vast array of lifestyle services.

As a venture capital fund valued at some $5 million, Sadif’s investments usually range from $25,000 to $500,000, depending on the funding requirements of investees.

The fund is managed by investment and advisory firm Mekong Strategic Partners. Late last year, regional insurance provider Forte Insurance was announced to be a co-investor in Sadif.

Around the same time, the first two companies to receive investments were announced to be Joonaak Delivery and Morakot Technology.

MOST VIEWED

  • Locations shut, dozens more Covid-19 positive

    The Ministry of Health has closed 23 locations in connection with the February 20 community transmission of Covid-19 and summoned for testing anyone who had direct contact with affected people and places. The number of discovered related infections has risen to 76, including 39 women. In a press release,

  • Kingdom's Covid cluster cases jump to 194

    The Ministry of Health on February 25 confirmed 65 new cases of Covid-19, with 58 linked to the February 20 community transmission. The latest cluster cases include nine Vietnamese nationals, five Cambodians, one each from Korea, Singapore and Japan, with the rest being Chinese. This brings the total number

  • Cambodia's Covid cluster cases rise to 137

    The Ministry of Health on February 24 recorded 40 more cases of Covid-19, with 38 linked to the February 20 community transmission. Of the 40, two are imported cases involving Chinese passengers. The 38 include two Vietnamese nationals and one Cambodian, with the rest being Chinese. This brings the total cases

  • Covid cluster raises alarm, health bodies urge vigilance

    The Ministry of Health and the World Health Organisation (WHO) in Cambodia have expressed great concern over the February 20 cluster transmission of Covid-19 in the community. Both entities appealed for vigilance and cooperation in curbing further spread of the virus. Ministry spokeswoman Or Vandine said

  • PM confirms third Covid-19 community transmission

    Prime Minister Hun Sen on February 20 announced the Kingdom's third outbreak of Covid-19 community transmission after 32 people tested positive in just over 10 hours. Addressing the public from his residence after an emergency meeting, Hun Sen said: "I dub it February 20 Community Event, in which 32 cases

  • Cambodia to make auto-rickshaws

    Locally-assembled electric auto-rickshaws could hit the Cambodian market as soon as early in May after the Council for the Development of Cambodia (CDC) gave the greenlight to an investment project at the weekend. According to a CDC press release, it will issue a final registration