AInvest
TBC Bank Group PLC has announced the acquisition of a 53% stake in BILLZ, a retail management platform, for $9 million. This strategic acquisition enhances its SME reach within Uzbekistan’s fintech market. The move allows BILLZ to tap into TBC’s financial services, boosting SME offerings and digital reach for growth. Rustam Khamdamov, CEO of BILLZ, stated that joining forces with TBC Uzbekistan gives them a powerful platform to scale their impact, offer more value to their customers, and accelerate their mission across the region. This partnership is a major milestone not only for BILLZ, but also for the broader startup ecosystem in Central Asia.
BILLZ is an all-in-one retail management SaaS platform that combines POS, inventory, CRM, e-commerce, and analytics to streamline operations and drive sales. It simplifies marketing, connects seamlessly to marketplaces and social shops, and helps retailers grow online. Currently, BILLZ supports over 4,000 retail businesses and processes more than 1.5 million transactions per month, making it one of the most widely used SaaS platforms in the region. This acquisition will enhance TBC Uzbekistan’s reach into the strategically important SME segment, providing immediate access to thousands of business customers and creating additional synergies within the ecosystem to drive average revenue per user, loyalty, and stickiness. BILLZ users will gain seamless access to banking and lending products provided by TBC UZ, Payme’s suite of digital payments services, as well as other products within the TBC Uzbekistan ecosystem.
The strategic partnership with BILLZ comes as TBC Uzbekistan continues to expand its product offerings within its digital banking ecosystem. This follows the recent launch of a new lending product for business customers, unveiled in April as part of the TBC Business offering for small and medium-sized enterprises, as well as the launches of the Osmon credit card and Salom debit card last year. These products are already playing a key role in tapping new customer segments, diversifying revenue streams, and driving growth of TBC’s digital banking ecosystem. Nika Kurdiani, CEO of TBC Uzbekistan, commented on the acquisition, stating that since TBC’s expansion into Uzbekistan in 2019, the bank has played a leading role in the development of the country’s financial services and technology sectors. The partnership with BILLZ reconfirms TBC’s ongoing commitment to supporting Uzbekistan’s vibrant startup community. Kurdiani expressed admiration for the work done by Rustam Khamdamov and the founding team at BILLZ, transforming the platform into one of the country’s leading players in its space. He is confident that this partnership will fuel the platform’s growth and development, as well as unlock additional synergies within the ecosystem that will further drive customer engagement, loyalty, and revenue growth.
