Cambodia-based payments app Clik has reportedly raised $2m in its Seed funding round.
The investment was led by Limestone Technology and OpenWay, as well as a number of angel investors from the retail sector of Cambodia, according to a report by TechinAsia.
Clik is a mobile-based payments app which to empower enterprises, merchants and consumers with secure transactions. The company is hoping to build a digital community across the South Asia region by establishing a seamless payment system accessible to everyone.
Capital from the round will be used to drive development for the company’s beta test and prepare for the commercial launch of the product, the article said. A Q2 2019 launch has been set for Clik, with the FinTech just waiting to receive a payments provider license from the National Bank of Cambodia.
The company has reportedly already established a number of partnerships with local companies including healthcare retailers and restaurant chains.
Last week, mobile-based credit card solution provider Jaja surpassed its £3m crowdfunding target. The newly launched product is an entirely digital credit card which can be manged through the Jaja app. Its key features include a chat-based onboarding process, instant credit issuing, flexible repayment options, and the ability to share credit with family and friends.
Last year, the payments and remittance sector was dominated by the Asian market, according to data by FinTech Global. Of the $11.9bn to be deployed into the sector over the course of last year, $8bn of the capital was invested into Asia, representing a 67 per cent share.
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