Elyor Maksudov, Startup and Investment Development Director at IT Park Uzbekistan, held a meeting with Saad Ansari, CEO of Xpence, and Zain Ansari, Co-Founder of the company. The discussion focused on the prospects for establishing the company's office in Uzbekistan, recruiting local talent, and initiating collaboration with a domestic banking institution.
Xpence is recognized as one of the fastest-growing fintech companies in Saudi Arabia. The company offers integrated solutions tailored to freelancers, startups, SMEs, and corporate clients, combining physical and virtual Visa cards with intelligent financial tools. Key features include automated bookkeeping, real-time expense tracking, invoicing, and advanced financial oversight.
During the meeting, the parties explored key avenues for cooperation, including the formal establishment of Xpence’s office in Uzbekistan, recruitment of local professionals, the process of acquiring IT Park membership, and the initiation of a collaboration with a local bank. Particular attention was paid to Uzbekistan’s favorable investment climate and the potential for scaling fintech services across the domestic market.
The Xpence delegation commended the supportive conditions for international business operations in Uzbekistan and expressed readiness to launching collaboration in the immediate future. A memorandum of understanding between IT Park Uzbekistan and Xpence is expected to be signed shortly, marking a new chapter in the development of the country’s fintech ecosystem.
IT Park remains committed to attracting leading global startups and unlocking new opportunities for the nation's digital economy. The anticipated partnership with Xpence further affirms the growing international interest of in Uzbekistan’s market and reinforces its positioning as a regional fintech hub.
