Cambodia-based tech company Groupin raised a US$5 million Series A funding round from Belt Road Capital Management (BRCM), marking the largest funding round in history raised by a Cambodian tech startup to date.
Co-founded by the three brothers and one sister, Groupin is the holding company of e-commerce startup Little Fashion and digital media startups Mediaload, which operates Khmerload in Cambodia and Myanmarload in Myanmar.
Launched as an informal Facebook retailer in late 2010, Little Fashion was one of Cambodia’s first e-commerce startups. Mediaload provides content on buzz-worthy topics with over 8 million monthly readers. It had received US$200,000 in seed funding from 500 Startups in 2017.
The company aims to further expand as a regional internet company. The funds raised from BRCM would be used to expand both Little Fashion and Mediaload.
The announcement was made around the same time the Cambodian Minister of Economy and Finance, Aun Pornmoniroth said at a workshop that Cambodia’s digital economy will need at least ten years to grow. Despite having a relatively small digital ecosystem and several structural barriers, Groupin’s announcement does imply a budding potential for the Cambodian startup landscape.
Editor: Nadine Freischlad
Indonesian fisheries e-commerce startup Aruna wins Alipay-NUS Enterprise “tech for good” challengeIndonesian fisheries e-commerce startup Aruna wins Alipay-NUS Enterprise “tech for good” challenge
Indonesia voted. What’s the incoming government’s biggest digital economy homework?Indonesia voted. What’s the incoming government’s biggest digital economy homework?
Acquisitions are a way to grow: Carousell co-founder and CEO Quek Siu Rui with an outlook post-Naspers dealAcquisitions are a way to grow: Carousell co-founder and CEO Quek Siu Rui with an outlook post-Naspers deal
Woman brings JD founder Richard Liu to Minnesota civil court, accusing him of rapeWoman brings JD founder Richard Liu to Minnesota civil court, accusing him of rape
Investing for social impact: Venture VoicesInvesting for social impact: Venture Voices