BC Bank Uzbekistan (TBC UZ), the country’s largest digital bank, announces today it has secured $20 million in debt financing from a fund managed by Switzerland-based impact investor BlueOrchard Finance Ltd (BlueOrchard).
The new agreement takes the total funding for TBC UZ through a BlueOrchard managed fund to $45 million, further extending the impact investor managed fund’s commitment to the Bank on the back of the original $25 million agreement signed in August 2024.
The funds will be used to further expand TBC UZ’s lending efforts and promote financial inclusion in Uzbekistan, with a focus on expanding the digital bank’s offering for Uzbekistan’s small and medium sized enterprises (SMEs).
Nika Kurdiani, CEO of TBC Uzbekistan, commented: “We are delighted to have the opportunity to strengthen our relationship with BlueOrchard – a truly valued partner – and secure additional funding at a time when we are gearing up to launch our lending offering for SMEs. The new agreement will allow us to further diversify our funding base, helping us to provide Uzbekistan’s SMEs with quick and easy access to the loans they need to continue to develop and drive economic growth in the country”.
Philipp Mueller, CEO of BlueOrchard, said: “We are looking forward to deepening our relationship with TBC, whose mission to expand financial inclusion in Uzbekistan closely aligns with our values. We are confident that this additional funding will enable TBC UZ to further drive economic growth for entrepreneurs and small businesses in the region.”
TBC UZ is part of TBC Uzbekistan, a leading digital financial ecosystem in Central Asia, which also 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.
Read the orginal article: https://ffnews.com/newsarticle/funding/tbc-bank-uzbekistan-secures-additional-20-million-from-blueorchard-managed-fund/
