Mote Poh, a Yangon-based employee-benefits-as-a-service startup for Myanmar companies, receives a six-digit funding from EME-Myanmar, a Yangon-based investment company, together with Nest Tech, the Vietnam-based venture capital firm. Mote Poh was founded by Loring Harkness, serial entrepreneur in May 2018. Its mission is to help companies ‘surprise and delight’ their employees through an exclusive rewards book that can stretch employees’ paychecks by hundreds of dollars a month.
Loring Harkness came up with this idea because many companies in Myanmar provide employees with limited compensation packages: salary, personal income tax, social security contributions, and occasional ad hoc benefits like team dinners. At the same time, many companies have difficulty recruiting, recognizing and rewarding, and retaining top talent and they worry about implementing an employee benefits program will be time consuming and expensive.
Mote Poh has grown fast with over 60 clients, including Yoma Strategic Holdings and MyJobs.com.mm within one year. It is currently developing a mobile app, and expanding to other types of loyalty programs. It seeks to transform the HR industry by partnering with companies to recognize and reward employees.