In the dynamic world of technology and finance, TBC Bank Group’s recent acquisition of a majority stake in BILLZ is a notable development. The acquisition, valued at $12 million, represents a strategic move by TBC, primarily targeting the small and medium-sized enterprises (SMEs) in Uzbekistan. TBC operates as the leading financial services provider in Georgia and has been actively expanding its digital banking ecosystem in Uzbekistan. With this acquisition, TBC aims to enhance its influence in a nation noted for its rapid advancements in digital banking and technology infrastructure. TBC’s purchase entails an initial 53% stake in BILLZ, valued at $9 million, with plans to raise its ownership to 60% over the next years, setting BILLZ’s value at about $20 million upon completion. Furthermore, TBC has secured a put/call option for the remaining shares that can be executed three years post-acquisition, reflecting a long-term investment strategy that aligns with the region’s promising tech landscape.
Expanding TBC’s Digital Ecosystem
By integrating BILLZ into its existing operations, TBC Uzbekistan, the company aims to bolster its presence in the digital sector significantly. TBC Uzbekistan features a diverse array of services like Payme, a digital payment platform catering to both individual users and small businesses, along with Payme Nasiya, an emerging credit service. The connection with BILLZ is crucial because it allows TBC to tap into Uzbekistan’s SME market, offering BILLZ’s retail management software to a broader customer base. This integration is poised to supplement TBC’s offerings considerably, providing BILLZ users with direct access to various financial services TBC offers, including banking, loans, and digital payments. BILLZ is renowned for its comprehensive retail solutions, which include POS systems, CRM, e-commerce, and robust analytics tools that help improve retail operations and increase sales. With over 4,000 businesses utilizing BILLZ’s services to process more than 1.5 million transactions monthly, TBC anticipates that this move will enhance user retention, increase customer acquisition, and boost average revenue per user, benefiting its broader digital ecosystem.
TBC’s move to acquire BILLZ signals increasing investor interest in Uzbekistan’s technology landscape. The country has shown a robust economic environment with a stable macroeconomic climate, boasting a GDP growth rate averaging 6% annually. This economic stability has catalyzed the demand for digital services and banking transformations, making it an appealing market for technology investment. TBC’s acquisition aligns with recent expansions in its digital banking offerings, highlighted by the introduction of new business lending products and customer-oriented products, such as the Osmon and Salom cards, which diversify its revenue streams. This acquisition underlines TBC’s commitment to pushing boundaries in digital finance and tech, as evidenced by its strategic initiatives, indicating a future teeming with technological innovation and growth opportunities in Uzbekistan.
Strategic Partnerships and Market Impact
This acquisition partnership bears testimony to the promising trajectory of Uzbekistan’s tech sector. Nika Kurdiani, CEO of TBC Uzbekistan, emphasized TBC’s crucial role in advancing the country’s financial services and technology sectors since entering the market in 2019. Kurdiani commended Rustam Khamdamov and the BILLZ team for their remarkable work in positioning BILLZ as a frontrunner in its industry. Joining forces with TBC offers BILLZ a strategic platform to amplify its market impact and extend its digital solutions across a larger clientele. Rustam Khamdamov, CEO of BILLZ, echoed this positive outlook, viewing the partnership as a significant milestone not just for BILLZ, but for the broader startup ecosystem in Central Asia. Such collaborations are set to advance BILLZ’s mission of empowering retail entrepreneurs with cutting-edge tools for business growth and digital transformation, equipping them to navigate an increasingly digitalized economic landscape.
The alliance leverages both companies’ strengths, creating a synergistic effect that reverberates throughout the region’s digital and banking sectors. By building on BILLZ’s established presence in retail management in Uzbekistan and beyond, TBC can further its mission of digital and financial inclusion in the region. The acquisition also serves as a blueprint for how strategic partnerships can foster innovation, propelling companies beyond traditional boundaries while contributing to a more interconnected digital ecosystem. This significant collaboration signals a pivotal moment in Uzbekistan’s tech evolution, set to influence not only the digital banking realm but the entire economic landscape of Central Asia. As technology continues to reshape industries, the partnership between TBC and BILLZ offers a template for navigating the digital frontier in emerging markets.
A Transformative Shift in Tech and Finance
By incorporating BILLZ into TBC Uzbekistan’s operations, the company seeks to strengthen its foothold in the digital sector. TBC Uzbekistan offers various services, including Payme, a digital payment platform for individuals and small businesses, and Payme Nasiya, a new credit service. BILLZ’s integration is essential for TBC to penetrate Uzbekistan’s SME market by providing retail management software to a wider audience. This move enhances TBC’s offerings, granting BILLZ users access to TBC’s financial services like banking, loans, and digital payments. BILLZ is recognized for its retail solutions, such as POS systems, CRM, e-commerce, and analytics tools, aiding retail operations and boosting sales. With over 4,000 businesses using BILLZ, processing 1.5 million transactions each month, TBC expects improved user retention, increased customer acquisition, and higher average revenue per user, enriching its digital ecosystem. This acquisition reflects growing investor interest in Uzbekistan’s tech sector, driven by stable economic conditions and rising demand for digital services.
