Cambodia Investment Review
NHAM24, considered Cambodia’s first and leading on-demand super app, recently announced a significant achievement: reaching 1 million registered users according to a company press release. Since its inception in 2016, NHAM24 has transitioned from a basic food delivery app to a versatile digital lifestyle platform, symbolizing not only its growth but also the potential within Cambodia’s burgeoning startup ecosystem.
The company’s evolution is indicative of a broader trend in the country’s technology landscape, where startups are increasingly impacting daily life. “Our platform’s transformation aligns with our goal to respond effectively to our customers’ needs, adapting and evolving in a rapidly changing market,” Chann Borima, co-founder and CEO of NHAM24 told Cambodia Investment Review.
The CEO attributes this milestone to the platform’s ability to innovate continuously and enhance user experience, ensuring services are more accessible and efficient.
The Cambodian Market Offers Unique Opportunities
The significant boost in user base came after a 2018 investment by the Smart Axiata-backed Digital Innovation Fund (Sadif) which took a minority stake in the company. This investment was a vote of confidence that underscored the potential NHAM24 had to offer and by extension, highlighted the growing interest in Cambodia’s tech startups.
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The Cambodian market offers unique opportunities, yet the relatively small size and the nascent nature of the startup ecosystem often make it difficult for investors to see substantial returns. Access to capital remains a critical hurdle we continue to face, along with many other startups in the region. This issue underscores the need for more robust support systems and investment in the local startup scene to foster further innovation and growth.
NHAM24 has managed to carve out a strong position despite the presence of formidable competitors, including international giants like Grab and Foodpanda, as well as local contenders such as E-Gets and Wownow. The app distinguishes itself through a commitment to fair pricing, exceptional customer service, and an extensive range of offerings. “We provide a seamless customer experience that keeps people coming back. This loyalty is crucial for our growth,” Borima stated.
The platform supports its merchants and delivery partners extensively, offering services that go beyond the typical app functionality. “We partner closely with our merchants, aiding in advertising, food photography, and even video content, which helps them attract more customers without the usual overhead,” Borima noted. For delivery partners, NHAM24 emphasizes professional training and competitive pay, fostering a sense of loyalty and professionalism that enhances overall service quality.
Diversification Is Key To NHAM 24’s Growth Strategy
The expansion into grocery delivery, ride-hailing, and e-commerce is part of NHAM24’s strategy to not just increase user convenience but also to understand consumer behavior better, which drives further expansion and innovation. “Diversification is key to our growth strategy. By expanding our services, we gather valuable insights that help us serve our customers better and explore new opportunities,” explained Borima.
NHAM24’s achievement of reaching 1 million users is not just a corporate milestone; it’s a beacon for Cambodia’s startup potential, showcasing the possibilities within a challenging yet dynamic market. As NHAM24 continues to grow, it also sets a precedent for what Cambodian startups can achieve with innovation, strategic planning, and a deep understanding of their consumer base.
