Cambodian FinTech Clik said to raise $3.7m in funding

Cambodia-based payments company Clik has reportedly netted $3.7m in a funding round as it edges nearer to its launch.

The round was backed by Openway, Poems Pte and a number of unnamed angel investors, according to a report from Jump Start Mag. A third of the angel investors were based in Cambodia.

This investment is allegedly the biggest seed round into a Southeast Asian mobile payments, loyalty programme, data visualisation and cloud data services company.

With the equity injection, Clik is strengthening its product engineering and customer service teams as it preps for launch later this year.

The FinTech provides businesses with a solution to accept payments through point-of-sale terminals that can accept mobile and contactless payments.

It’s not just businesses that can make use of the Clik platform. Consumers can use the mobile app to make contactless payments through their smartphone and link all of their bank accounts and cards to a single platform. Users can also earn rewards such as cashback on payments.

Clik CEO and co-founder Matthew Tippetts told Jump Start Mag, “After two years of scaling up and defining the fundamentals of our regional market strategy, we’re ready to accelerate our growth with the closure of our seed round. Our goal here is to offer merchants and consumers a much-needed and attractive digital alternative to cash,” said in the statement.

“The closing of our seed round is a sign that investors are eager to back future proof platforms for the ‘new normal’ that will inevitably exist post-COVID. It also shows that investors see attractive opportunities for investment in Cambodia, especially in start-ups with robust regional potential.”

Clik previously raised $2m in a funding round back in 2018, the article said.

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