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

  • US names new ambassador to Cambodia

    US President Donald Trump on Friday appointed W Patrick Murphy as the new US Ambassador to Cambodia, replacing incumbent William A Heidt. A press release posted on the White House’s website said nominee W Patrick Murphy is currently acting principal deputy assistant secretary at

  • Kingdom is at a crossroads between East, West after poll

    It was dubbed a success by caretaker prime minister Hun Sen after the electoral victory of his Cambodian People’s Party (CPP), which is poised to take all seats in the National Assembly. But the July 29 national election has not been positively looked at by

  • Chinese influence to sweep Kingdom?

    Growing Cambodia-China ties have seen the latter’s influence sweep across the Kingdom through increased investments and tourism. The Asian giant has become the leading source of foreign funds in Cambodia, fuelling the construction sector with huge casino and hotel projects. Much of the growth

  • Western poll flak is ‘pressure to take the Kingdom hostage’

    After last month’s national elections brought praise for the orderly manner they were run and managed, the ruling Cambodian People’s Party (CPP) spokesman Sok Eysan dismissed criticism from the West as a “violation of the Kingdom’s independence”. He said the attitude of