Cambodian fintech startup Clik announced today that it has raised US$2 million seed funding led by Limestone Technology and OpenWay, along with several angel investors from Cambodia’s retail sector. The company will launch in Q2 next year as soon as it receives the Payment Service Provider license from the National Bank of Cambodia.
“Clik aims to change the way consumers and merchants interact and experience digital payments as they become more fragmented with limited customer data,” said Matthew Tippetts, CEO, and Co-Founder of Clik. “We seek to provide brick and mortar businesses with customer insight as well as tools to act on this insight so they can grow profits utilising analytics, loyalty programs, & micro-targeted messaging management.”
Clik is a payment gateway and aggregator that aims to provide a simple and personalised payment experience to everyone. Founded in 2016, the company has partnered with Cambodian retailers, such as uCARE Pharma, Hard Rock Cafe Phnom Penh, and MEAS Group.
Clik introduces integrated loyalty plans that eliminate old card systems and an mPOS platform that makes a safer use of bank cards. Clik has an eKYC process that uses artificial intelligence and machine learning for fraud prevention.
Cambodia’s e-payments have grown steadily in the past three years according to a 2017 study by the United Nations, especially in Internet banking and payment services sector. Both sectors offer consumers access to their funds and facilitate real-time trade transactions thanks to over 7 million internet users and 8.4 million smartphones.
Right now, the startup is considering raising an additional USD$1 million to further complement its latest seed/pre-series A funding round.