Clik, a Cambodia-based Fintech firm, has reportedly acquired $3.7 million in seed funding. The company has also hired new staff members.
Clik’s management noted that the funds raised would be used to expand its business operations, including its product engineering and customer service teams, in order to get ready for its nationwide launch toward the end of 2020.
Clik’s head offices are based in Phnom Penh, which is Cambodia’s capital city and its major economic hub, accounting for a large portion of the nation’s $25 billion GDP..
Clik’s investment round was led by Openway and Poems Pte Ltd, which is Phillip Capital’s investment holding company. Phillip Capital is a Singapore based financial house with more than $35 billion worth of assets under management (AUM).
Several international investors and also some Cambodia-based investors took part in the Fintech firm’s round.
Established in 2016, Clik is basically a payment aggregator that supports consumer payments made from cards, digital wallets, and bank accounts. The Fintech company also allows merchants to easily accept payments. Clik says it’s Cambodia’s very first independent mobile point of sale (mPOS) and SoftPOS merchant acquirer.
Clik also supports contactless payments and has a unified, user-friendly platform that focuses on building customer loyalty in order to drive up profits for merchants. The Fintech company has created its digital or electronic KYC software, so that it can easily onboard new consumers and merchants within minutes while ensuring data privacy and security. The company’s services also comply with relevant banking regulatory guidelines.
Clik claims that it has around 2,500 merchants and five established financial institutions that are taking part in its beta program. The company also mentioned that it has access to more than 56,000 merchants.
Matthew Tippetts, CEO and co-founder at Clik, stated:
“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.”
Clik has appointed Patrice Vignes as the firm’s COO. Olivier Mermet will be working as the chief design and strategy officer. Denver Gibson, the former deputy CTO at Clik has been promoted to CTO. Darren Jensen, the company’s co-founder and former CTO, will now serve as Clik’s blockchain tech advisor.