Before he cofounded Morakot, a banking and loan management platform for microfinance institutions (MFIs) in Cambodia, Sophorth Khuon worked in microfinance himself. So he knew firsthand the challenges MFIs face when it comes to loan distribution and management.
“Less than 5% of microfinance institutions in Cambodia could afford standard microfinance software, and most of the software was designed for a bank and not for microfinance institutions,” Khuon said. “So there’s a lot of customization that needs to be done, and it’s hugely costly for MFIs. The MFIs that couldn’t afford this software would end up staying with Excel, which I would say is manual tracking. Some of them even recorded their clients on paper.”
Read more on Forbes.com
In less than three years, Startupbootcamp FinTech has made a name for itself as the world’s leading accelerator dedicated to financial innovation and the only programme of its kind to attract such a wide reach of industry support.
Which is no surprise considering what this award-winning accelerator offers to international startups – funding, mentorship, office space and access to a global network of corporate partners, mentors, investors and VCs.
Read more on Geeks in Cambodia
កាលពីថ្ងៃទី៤ មីនា ២០១៧ ក្រុមហ៊ុន មរកត ថេកណូឡូជី ត្រូវបានជ្រើសរើសដោយក្រុមហ៊ុន StartupBootCamp នៅសិង្ហបុរី។ មាន ២៥០០ ក្រុមហ៊ុនពីបណ្តាប្រទេសជាង ៤០ ទូទាំងពិភពលោកចូលរួមក្នុងការប្រកួតនេះ។ វគ្គជម្រុះដំបូង មានតែ ៤៥០ ក្រុមហ៊ុនប៉ុណ្ណោះ ជាប់ ហើយជម្រុះលើកទី២ នៅសល់ត្រឹម ២០ ក្រុមហ៊ុន ដែលត្រូវបានអញ្ជើញទៅសិង្ហបុរី ដើម្បីធ្វើបទបង្ហាញពីក្រុមហ៊ុនរបស់ខ្លួន។ ចុងក្រោយ ១២ ក្រុមហ៊ុនដែលទទួលបានជយលាភី ត្រូវចូលរួមកម្មវិធី FinTech StartUp BootCamp Accelerator Program នៅសិង្ហបុរី ៦ ខែ ជាមួយទឹកប្រាក់ ២៥០០០ ដុល្លារសិង្ហបុរី។
Cambodian software firm Morakot Technology is looking to become a major financial technology (fintech) player in the Kingdom with the development of an operating system for banks and microfinance institutions (MFIs) that hopes to provide cost-effective solutions to the country’s medium and small-sized players.
The software, called Morakot VB, was developed to provide a cheaper and simpler operating and accounting platform for the Cambodian financial industry, especially for small-sized MFIs, rural credit operators and non-government organisations working with financing solutions, according to Khuon Soporth, CEO and co-founder of Morakot Technology.
Read more on Phnom Penh Post
Startupbootcamp, founded in 2010 in Copenhagen, Denmark, launched its first fintech accelerator in Asia in Singapore two years ago.
The accelerator runs 13 programs in Amsterdam, Barcelona, Berlin, Eindhoven, Istanbul, London, Miami, New York, and Singapore. This year, the program picked 12 international startups – of the 450-odd that pitched from 40 countries – to join its Singapore accelerator program.
Starting April 10, the 12 selected startups will get extensive mentorship from over 400 entrepreneurs, investors, and corporate partners, helping them build and scale across Southeast Asia.