Alif Uzbekistan, a member of IT Park Uzbekistan, has successfully secured a $5 million financing line from the British Islamic fund, Cur8 Capital. The capital raised will be allocated towards the expansion of the company’s installment payment service, Nasiya.
Alif is an international fintech company operating across Uzbekistan, Tajikistan, and Pakistan, is distinguished by its commitment to the principles of Islamic finance. The company has been active in Uzbekistan for five years, offering a super app with over 1,000 services. One of the key offerings is the Nasiya installment service, which has enabled over 850,000 customers to purchase goods and services on an installment plans without an upfront payment, with terms of up to 24 months.
As part of its long-term strategy to solidify its position within the financial services sector, Alif plans to issue sukuk (Islamic bonds), which was announced last year. This initiative aligns with the company’s broader objective of attracting investments while complying with Islamic finance regulations.
“This financing line opens new opportunities for the growth of the Nasiya service. This deal represents the first phase of our current fundraising efforts. Alif Uzbekistan will announce further agreements shortly,” shared Nuriddin Lafizov, CEO of Alif Uzbekistan.
Cur8 Capital, headquartered in the United Kingdom, focuses on investments in projects related to Islamic finance. Alongside its investment in Alif, the fund has also extended support to Ayan Capital, a startup founded by Alif's co-founders.
Securing investment from an international investor reflects the growing confidence in Uzbek startups on the global stage. This achievement not only bolsters Alif Uzbekistan’s position but also fosters the development of the local startup ecosystem, increasing international interest in investing in Uzbek enterprises. Such deals underscore Uzbekistan’s emergence as an increasingly attractive platform for venture capital and innovative projects, contributing to the creation of a supportive environment for startups in the country.
