Cambodia Investment Review
The 2022 CamTech Summit and Awards Powered by Prudential Cambodia organized by Cambodian Association of Finance and Technology (CAFT), the National Bank of Cambodia (NBC), The Association of Banks in Cambodia (ABC) and Cambodia Microfinance Association (CMA) with Prudential Cambodia as its Title Sponsor successfully concluded the month-long last December 02, 2022 at the Royal Train Station, Phnom Penh Cambodia.
The flagship fintech event in Cambodia started with the Singapore Fintech Festival (SFF) held from November 2 to 4, 2022, followed by the inaugural Cambodia Tech Expo that happened from November 11 to 13.
The main and final event started with the CamTech Summit Powered by Prudential Forum in the morning and ended with the launch and awarding ceremony of the first ever CamTech Awards.
CamTech Summit Powered by Prudential Forum was an event filled with insightful speakers and panelists both local and international as they discuss crucial topics such as Long-term Financing in Cambodia’s Sustainable Development and Securing the Future of SME’s.
The awards night was attended by several of Cambodia’s leading business owners, entrepreneurs, and government officials at a gala event organized by the Cambodia Association of Finance & Technology (CAFT), supported by Prudential Cambodia.
Prudential Cambodia proud to be the ongoing title sponsor
Mr. Chee Weng Yip Chief Distribution Officer, Prudential Cambodia said the company was very proud to again be the title sponsor of the 2022 CamTech Summit which brought together the wider FinTech community as well as showcased Cambodia’s vibrant and emerging startup sector on the international stage.
According to CAFT, Cambodia has over 300 active technology startups, operating at various stages of maturity in Cambodia, with FinTech as the most active category in the digital space.
“Prudential Cambodia continues to be the title sponsor of the CamTech Summit since 2020 because we believe that this is a great opportunity for our company to elevate the Fintech sector and raise awareness of the commercial tech successes in the Kingdom,” he said.
“As a pioneer in digital insurance in Cambodia, Prudential is fully committed to advancing financial inclusion in Cambodia and as a driving mission for the company. As the leading insurer, we want to do our part and ensure insurance is accessible and affordable for all Cambodians. Technology is making it possible for all health and wealth services to be available to customers at a lower cost,” he added.
The largest insurer in Cambodia
Mr. Freddie Wong, Chief Actuary of Prudential Cambodia said Prudential Cambodia’s ongoing investment as the title sponsor of the CamTech Powered by Prudential Cambodia Summit showcases our commitment to helping Cambodia develop its digital capacity, especially in the financial sector.
“As the largest insurer in Cambodia with over 200 million USD of assets under management one of Prudential’s key priorities is to also help develop financial markets and to support key infrastructure projects in Cambodia. These priorities fit with our company’s long-term mission of advancing financial inclusion, investing in digital capabilities, and being a responsible corporate citizen,” Freddie said.
“As a responsible corporate citizen, Prudential Cambodia has itself been investing in and collaborating with Cambodia’s long-term financing projects that promote sustainable development for critical infrastructure projects, partnering with development and humanitarian organizations, and increasing the Kingdom’s digital capabilities,” he added.
A fantastic way to celebrate Cambodia’s growing FinTech community
Mr. Remi Pell Chairman of CAFT addressed the crowd in his opening statement saying the inaugural awards were a fantastic way to celebrate Cambodia’s growing FinTech community as well as an opportunity for the community to come to gather after the inaugural Cambodia Tech Expo (CTX) and annual CamTech Summit Powered by Prudential.
Acknowledging the FinTech community achievements tonight our panel of judges will award from three chosen categories, he added.
According to Remi, the Prudential Fintech of the Year Award – is the flagship award and will be awarded to a Cambodian Fintech company that has been present since the beginning of the fintech boom in Cambodia and has become almost iconic in its status.
“Secondly, the Start-up Fintech of the Year Award – this up-and-coming award will be awarded to a potential ‘Unicorn’ that will change the way FinTech Cambodian Market is seen and will also serve as inspiration for all aspiring startups in Cambodia,” Remi said.
“And finally, the Women in Fintech of the Year Award – will be awarded to an outstanding female individual who has consistently contributed to the advancement of the Fintech Sector in Cambodia,” he added.
2022 CamTech Powered by Prudential Award winners and nominees were:
Prudential Fintech of the Year Award
- iCare Benefits Group (Winner)
- bill24 (Runner-up)
- Wow Now (Runner-up)
Start-up Fintech of the Year Award
- Jalat Logistics (Winner)
- Krama NFT Marketplace (Runner-up)
- Pilltech (Runner-up)
Women in Fintech of the Year Award
- Pen Bopha, CEO at Rithipul (Winner)
- Frandara Khuon, Chief Strategy Officer at True Money (Runner-up)
- Molika Meas, Co-Founder & Group CEO at iCare Benefits (Runner-up)
A welcomed validation of the hard work of iCare employees
iCare Benefits was established as a comprehensive retail, buy-now-pay-later, and leasing social enterprise focused on low-income women factory workers in developing countries. The company recently raised $15 million impact facility from Singaporean-based FinTech firm Helicap.
Molika Meas Co-Founder and Group CEO told Cambodia Investment Review: “This award is a welcomed validation of the hard work of iCare employees in their efforts to provide our customers with a top-level retail experience. We are thankful to Prudential and CAFT for this recognition”.
Pablo F. Alonso Caprile Co-Founder and Group CFO added: “We appreciate the award as a recognition of iCare’s drive towards financial inclusion for low-income factory workers and the life-changing aspect of how our technology impacts our customers’ lives.”
Celebrate the growth of Cambodia’s FinTech startup sector
Speaking to Cambodia Investment Review after the awards night the Jalat founders said with a very strong 2022, this award is one of the validation that marks its milestone and it’s our greatest honor to be selected as the best startup of the year.
“We would like to express gratitude toward our board and our foundation team, you are all the best bits of this great milestone. With a strong 2022 moving to a positive 2023, from Jalat, we are hoping to vertically expand more services to enable more flexible and efficient delivery for both corporates and SMEs and achieve our first 500,000 customers served,” Jalat said.
“Lastly, we would like to thank the co-organizers namely National Bank of Cambodia, The Association of Banks of Cambodia, Cambodia Microfinance Association and Cambodia Association of Finance and Technology to celebrate and show the growth of the startup sector through this prestigious event,” they added.
Women can also be active in the FinTech community
Pen Bopha CEO of Rithipul a company that provides financial education for Cambodian youth and the local community told Cambodia Investment Review that the award was not only for her but for the founder and the whole Rithipul and Kotluy team.
“The team has worked very hard to promote Financial Literacy and develop our market-leading application as a tool to apply the knowledge that becomes a habit that leads to an attitude toward Personal Finance Management,” Pen Bopha said.
“This award is to prove that women can actively participate in Finance and Technology as a big force to contribute to the growth of our Cambodian society. I believe this award will inspire other women in FinTech who are actively working in this field to stand out to be selected as nominees for next year’s competition,” she added.