TBC Bank Uzbekistan (TBC UZ), one of the country’s largest mobile-only bank, has announced it has secured $25m in debt financing from a private debt fund managed by Switzerland-based impact investor BlueOrchard Finance Ltd (BlueOrchard).
These funds will be dedicated to further expanding TBC UZ’s ecosystem. This will contribute to the ongoing growth of the digital bank’s loan portfolio and promote financial inclusion in Uzbekistan, Central Asia’s largest country by population. This funding follows the $10n credit line TBC UZ secured from responsAbility Investments AG earlier this year, as the bank continues to diversify its funding base.
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TBC UZ is part of TBC Uzbekistan, a digital financial ecosystem in Central Asia
TBC Uzbekistan includes payme, a digital payments app for individuals and small businesses; and payme nasiya (payme instalments), an instalment credit business. TBC Uzbekistan is part of London-listed TBC Bank Group PLC.
Nika Kurdiani, CEO of TBC Group operations in Uzbekistan, commented: “We are thrilled to secure this significant debt financing from BlueOrchard, which will enable us to further diversify our funding base and expand our microlending efforts, helping enhance financial inclusion across Uzbekistan. We are passionate about providing innovative digital financial solutions that increase convenience and improve lives and feel privileged to have BlueOrchard’s support.”
Philipp Mueller, CEO of BlueOrchard, said: “We are delighted to partner with TBC Bank Uzbekistan and support its important mission of leveraging modern digital banking to help improve lives and promote financial inclusion in Central Asia. This investment will help TBC UZ reach more individuals with vital financial services, fostering economic resilience and development in the region.”
BlueOrchard is a global impact investment manager and member of the Schroders Group. TBC Uzbekistan is a digital banking ecosystem in Central Asia and part of London-listed TBC Bank Group. TBC Uzbekistan’s success is driven by its purpose-built tech stack, experienced international team and a consumer lending-led product strategy.
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