The startup Alif has secured debt financing from the U.S. investment firm Accial Capital. This was reported by the fintech service's press office, Spot.
Nairang Capital and TMT Global Advisors provided consulting support during the transaction. The total financing amount is $20 million.
The funds are intended for the development of the Nasiya installment service, expanding its capabilities, and promoting access to financial services in Uzbekistan. The raised capital is structured according to the principles of Islamic finance, the company emphasized.
The General Director of Alif Uzbekistan, Nuriddin Lafizov, described the partnership with the American company as "a significant step towards enhancing financial accessibility." According to him, the investments will help the startup scale its solutions.
Meanwhile, Accial Capital's Director of Investments, Debora de Ruy, noted "Alif's experience in responsible financing." The company expressed its readiness to support the "further growth and success" of the startup.
According to its own data, Alif Uzbekistan has attracted approximately $50 million from foreign investors this year alone. The total amount of investments raised by the startup’s division has exceeded $150 million.
For instance, in October, the company closed a deal to attract up to $5 million from the British fund Cur8 Capital. Additionally, the startup plans to issue Islamic bonds (sukuk) worth $50 million.
Previously, Spot reported that UnionPay plans to develop online payment systems in Uzbekistan.