TBC Uzbekistan Acquires Controlling Stake in BILLZ to Expand SME Ecosystem

TBC Uzbekistan, a subsidiary of TBC Bank Group, is acquiring a controlling stake in Uzbekistan-based SaaS platform BILLZ in a significant move for the Central Asian tech sector. The acquisition will strengthen TBC’s digital ecosystem by enhancing services for small and medium-sized enterprises (SMEs).

Under the agreement, TBC Uzbekistan will initially acquire a 53% stake in BILLZ for $9 million, with plans to increase its stake to 60% within two years. The total value of the deal could reach $12 million, positioning BILLZ’s market capitalization at $20 million.

BILLZ will retain its brand identity and continue operating independently, while becoming fully integrated into the TBC Uzbekistan ecosystem. Its management team will remain in place and continue leading operations.

According to a joint statement, the acquisition aims to drive customer acquisition and revenue growth for both entities. BILLZ, which supports over 4,000 retail businesses and processes more than 1.5 million transactions monthly, offers an all-in-one retail management platform. It includes POS, inventory, CRM, e-commerce, analytics, and marketing tools tailored for SMEs.

The integration will enable BILLZ customers to access TBC’s banking and credit products seamlessly, while allowing TBC to tap into a rapidly growing SME client base.

“TBC has played a leading role in developing Uzbekistan’s financial and tech sectors since our market entry in 2019,” said TBC Uzbekistan CEO Nika Kurdiani. “This partnership with BILLZ underscores our continued commitment to supporting local startups and expanding digital innovation in the region.”

Rustam Khamdamov, CEO and co-founder of BILLZ, added: “This is a key milestone for our team and for Central Asia’s startup ecosystem. Partnering with TBC gives us the scale and support to deliver even more value to our customers.”