The AIFC member, Uzbekistan-based retail startup, «BILLZ», has successfully closed a $650 000 investment round, led by a Singapore-based venture capital (VC) firm Quest Ventures, that invests in innovative projects in the region, and Sturgeon Capital, a London-based VC fund that invests in early-stage innovative projects.
BILLZ (https://billz.uz/) is an easy-to-use retail management software powered with POS, inventory management, CRM, e-commerce, and analytics for small and medium sized businesses. It helps to save time on daily retail operations and sell more by using marketing tools and analytics,
Mr James Tan, Managing Partner of Quest Ventures, said: «BILLZ is a great example of how digitalization and automation in retail can be improved at scale. It empowers employees to focus on more value-added functions, increases efficiency, and uplifts employability». Mr James Tan, in turn, will join the company’s Board of Directors.
The raised funds are planned to be spent on the further development of the product – business model validation, developing new functionality, and the geographical growth of the project, by entering new markets.