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The Smart Axiata Digital Innovation Fund (SADIF) today announced its latest investments into Banhji, a financial platform for micro, small and medium enterprises (MSMEs), and DRVR, a fleet analytics software provider for logistics and passenger vehicles. The two investments have expanded the SADIF portfolio of promising digital businesses to ten companies, joining Morakot Technology, Joonaak Delivery, Nham24, GoGames, Sala Tech, Okra Solar, Sousdey and Agribuddy.

Commenting on the two investments, Bora Kem, partner of Mekong Strategic Partners, the investment firm managing SADIF, said, “Our investments into Banhji and DRVR respectively highlight the significance of technology in enabling data-informed smart decisions. Banhji’s financial platform aims to bridge the financing gap experienced by MSMEs in Cambodia by enhancing the reliability of MSMEs’ financial reports. DRVR’s IoT and real-time analytics aim to reduce logistics customers’ fleet management costs and prevent casualties on the road.”

Banhji: Financial Software for MSMEs

Banhji is an award-winning fintech startup providing financial platform and applications that are fully connected with payment and financing ecosystem. With a vision to become the financial operating platform for MSMEs, Banhji’s solution empowers MSMEs to make smart business decisions and gives innovative access to financial services and working capital financing. As of December 2020, Banhji records more than 4,000 MSME users on its platform. Banhji has established strategic partnerships with various local financial institutions and payment providers, including facilitating some of the first unsecured loans using data on its platform.

“We founded BanhJi with the mission of powering MSMEs financial inclusion. In SADIF, we found a partner who not only shares this mission and our values but also has track record to help accelerate our progress so we can do even more for current and new customers.” said Sim Chankiriroth, Co-Founder of Banhji.

Thomas Hundt, CEO of Smart Axiata commented, “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 the local solution to serve Cambodian MSMEs to develop a proper financial report, thereby enhancing their financing opportunity. We are happy to contribute to MSMEs’ development through our SADIF investment into Banhji.”

In this round of capital injection, SADIF is co-investing alongside strategic investors in the financial services sector.

Banhji is a recognized leading fintech locally (Best Startup at Cambodian ICT Awards 2018) and internationally (Top 10 FinTech 2016 by Startup BootCamp & A Leading Startup in ASEAN by World Economic Forum).

DRVR: Fleet Analytics for Asia

DRVR is an IoT and data analytics company for the auto/insurance industry and companies that use fleet, including vessels. The company is incorporated in Australia and has operations in 5 countries, including Thailand, Myanmar and Indonesia. Currently, DRVR has thousands of vehicles using its software. Some of DRVR’s corporate clients include National Car Rental, Tokio Marine and NinjaVan. DRVR’s immediate pipeline represents more than 40,000 serviceable vehicles.

DRVR has developed a software solution which connects vehicles to the Internet using smart IoT sensors and driver application for fleet data. DRVR’s back end engine then processes the data and turns it into actionable knowledge. In addition, DRVR has developed a unique solution which focuses on accident detection and driving behavior monitoring for motorcycles.

Charles Cheo, Executive Chairman of Forte Insurance, the limited partner of SADIF added, “Data analytics is a critical element for data-driven products and efficient claim process in the insurance industry. By digitally transforming the way we operate, we empower our customers through technology and allow for data-informed agility. As such, Forte is looking forward to working alongside DRVR to implement the solutions for our customers and market.”

In this round of capital injection, SADIF is co-investing alongside a prominent Asia-based family office and an experienced Australian Angel Investment Group.

“DRVR is delighted to receive this investment and establish a strategic partnership with SADIF. We look forward to jointly offering Mobile first Telematics solutions with Forte and Smart Axiata. Our investment and strategic partnership with Forte particularly will allow us to extend our service and operations into Cambodia, in line with our regional expansion plans. We see huge potential for growth not only in Cambodia but across the ASEAN region.” said David Henderson, Founder and CEO of DRVR.

DRVR has also won awards as Best IoT Startup at ASEAN Rice Bowl Thailand in 2018 and Best New Company at King Power Thailand in 2019.

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