Two Cambodian technology associations have agreed this week to merge, seeing the Cambodia Fintech Association (CFA) and the Cambodia Association of Finance & Technology (CAFT) become one body in the Kingdom.
A statement confirming the merger said “Since the inception of the Cambodia Fintech Association in August 2018, we have rallied a community of 80 fintech companies to join us as members and we are proud to be able to bring international exposure [Philippines, Singapore, Taiwan ROC and Thailand] and awareness both into and out of Cambodia.
Today we like to formally announce that Cambodia Fintech Association and Cambodia Association of Fintech and Technology have decided to come together to serve the fintech community better.”
Under the merger, the new association will be led by the Chairman, Pen Chanda together with Secretary-General, Thomas Pokorny, Treasurer (Remi Pell) and executive committee members Jeremiah Lee and Bernard Teo.
In addition, Andrew Shin, Eddie Lee and Sim Chankiriroth will be advisors to the Association.
- Pen Chanda is a technology entrepreneur and CEO of Bongloy Payment PLC., he is also a Co-Chair of the ICT committee for the American Chamber of Commerce, and the President of the Cambodian Association of Finance and Technology (CAFT). Mr Pen Chenda also teaches financial technologies at NIPTICT.
- Thomas Pokorny is the CEO and co-founder of Pi Pay and has been the General-Secretary of the Cambodia Association of Finance & Technology since May 2019.
- Remi Pell is the Managing Director at iPay88 (Cambodia) Plc.
- Jeremiah Lee is Vice President Managing Partner of Global Tech Exchange according to CAFT database.
- Bernard Teo is the Chief Executive of YouAdMe.
- Eddie Lee is also the CEO of Limestone Network.
- Andrew Shin is also the chief executive officer (CEO) of PPC Bank.
- Sim Chankiriroth is the founder and Chief Executive Officer of BanhJi.
Mr. Chenda said: “This is a very exciting event for both our associations, for our members and the Fintech Community. We are forging a newly combined association, an association that has the most prominent Fintech companies in Cambodia as members being represented by their influential and innovative leaders ready to share their enhanced experience and expertise.”
Techo Startup Centre (TSC)
The Techo Startup Centre was launched in 2019 by the government to support young entrepreneurs and aid the Royal Cambodian Government’s plans to transform Cambodia into a digital economy.
It was also involved with rolling out the new Cambodia Online Business Registration System which launched in June 2020, by developing the Cambodia Data Exchange (CamDX).
In July 2020, a sub-decree number 96, signed by Prime Minister Hun Sen, tasked the TSC to “find innovative ways to grow companies that have the potential to develop quickly in line with the government’s framework for building a digital economy” reports the Khmer Times. The centre operates under the Ministry of Economy and Finance.
TSC Director Taing Ngounly said, “At TSC, we nurture startups through an accelerator programme of four to six months by equipping startup founders with essential skill sets through our mentor network, assisting them in building their prototypes called a minimum viable product and getting them ready for pitching to get seed funding.”