TASHKENT, Uzbekistan, August 29. TBC Bank Uzbekistan, the largest mobile-only bank countrywide, has secured $25 million in debt financing from a private debt fund managed by BlueOrchard Finance Ltd (a Swiss-based impact investor), Trend reports.
According to the bank, the funds will be allocated to expanding the bank’s ecosystem, supporting the continued growth of the digital bank’s loan portfolio, and promoting financial inclusion across Uzbekistan.
“This debt financing from BlueOrchard is a significant step in diversifying our funding base, allowing us to further expand our microlending initiatives. Our mission is to provide innovative digital financial solutions that enhance convenience and improve lives, and with BlueOrchard’s support, we can better serve the people of Uzbekistan,” CEO of TBC Group operations in Uzbekistan Nika Kurdiani said.
CEO of BlueOrchard Philipp Mueller emphasized that the company is pleased to partner with TBC Bank Uzbekistan and support its mission to leverage modern digital banking to improve lives and promote financial inclusion in Central Asia. This investment will enable the bank to extend essential financial services to more individuals, fostering economic resilience and development in the region.
TBC Bank Uzbekistan is a subsidiary of London-listed TBC Group, operating via physical and digital channels in Georgia. The bank is also a part of Uzbekistan’s leading digital financial ecosystem, which also contains Payme, a digital payments app for individuals and small businesses, and Payme Nasiya (Payme Instalments), an installment credit business.