The Smart Axiata Digital Innovation Fund (SADIF) confirmed it has invested in two more Cambodian firms; Banhji, a financial platform for micro, small and medium enterprises (MSMEs), and DRVR, a fleet analytics software provider for logistics and passenger vehicles.
Bora Kem, a partner at Mekong Strategic Partners, said, “Our investments in Banhji and DRVR highlighted the importance of technology in enabling data-informed smart decisions.”
Chief Executive Officer of Smart Axiata, Thomas Hundt, said: “MSMEs are one of the strongest drivers for Cambodia’s economy and employment rate, but they are faced with inefficiency in managing their finances.
Banhji has developed a local solution to serve Cambodian MSMEs to develop a proper financial report, thereby enhancing its financing opportunity. We are happy to contribute to MSMEs’ development through our SADIF investment in Banhji.”
Banhji is an award-winning fintech startup which provides a financial platform and applications that are fully connected with payment and financing ecosystems. Banhji “empowers MSMEs to make smart business decisions and gives them innovative access to financial services and working capital financing.”
Executive Chairman of Forte Insurance, the limited partner of SADIF Charles Cheo added: “Data analytics is a critical element for data-driven products and an efficient insurance claims process. By digitally transforming the way we operate, we empower our customers through technology and allow for data-informed agility.”
DVDR is an internet of things (IoT) & real analytics solutions provider. The firm reduces customers’ fleet management costs and prevents casualties on the road in five countries, including Thailand, Myanmar and Indonesia.
DRVR’s software solution “connects vehicles to the internet using smart IoT sensors and driver applications for fleet data. Their back-end engine then processes the data and turns it into actionable knowledge.”
Which companies have SADIF invested in?
In 2019 SADIF invested in Okra Solar, a solar energy software company, Sousdey Cambodia, a digital marketing platform and an enterprise solution for customer relationship management as well as SALA, a Cambodian-based school management solution and GoGames, a mobile gaming platform operating in Cambodia.
In total 10 companies have now received investment from the Smart Axiata Digital Innovation Fund include:
- Morakot Technology
- Joonaak Delivery
- Okra Solar
- Sousdey Cambodia
- Sala Tech
What is SADIF?
The Smart Axiata Digital Innovation Fund was devised by Smart in partnership with investment and advisory firm Mekong Strategic Partners (MSP).
The Fund was launched in 2017 in Cambodia and seeks to invest in ideas and businesses in the digital ecosystem to spark the development of a robust digital economy that will help grow Cambodia as a whole.
The 5 million USD venture capital fund “aims to spur the digital ecosystem in Cambodia. SADIF invests in Cambodian-based, digital companies and startups.”