TrustMe: Why a Kazakhstani startup decided to open an office in Uzbekistan

Continuing our series where we showcase IT Park residents. In a recent interview, the CEO of TrustMe Uzbekistan, Miras Seitov, shared his startup journey, discussed why he chose Uzbekistan, and unveiled future plans for their innovative project.

 

 

TrustMe was launched in 2020, with its headquarters based in Astana, Kazakhstan. The company’s flagship product became a B2B SaaS service for executing trust contracts via SMS technology within just 90 seconds, utilizing blockchain technology.

 

Since entering the market in May 2022, TrustMe has garnered the attention of over 900 companies ready to adopt their innovative solution. During this period, the employee count has increased from 20 to 75 individuals, marking impressive company growth.

 

According to the CEO, the primary mission of the project is aimed at improving people’s lives. TrustMe’s ambitious goal is to become the first unicorn from Central Asia.

 

Miras notes that business in Uzbekistan, Kazakhstan, and Azerbaijan has been highly productive. The team participated in programs alongside venture funds and the top startups of each country. During their time in Uzbekistan, they conducted successful experiments, confirming similarities in contract-related challenges across different countries. This led the team to launch the project in Uzbekistan as well.

 

The establishment of a new branch in Tashkent was the next step, as explained by the specialist. Uzbekistan, with its favorable conditions for electronic contract signing methods, was a logical move. TrustMe has already secured clients in the tourism, education, and real estate sectors.

 

Currently, the startup not only provides an innovative solution but also contributes to the development of the IT sector in the region, the tax benefits from IT Park in Uzbekistan provide an additional growth boost to the company.

 

Regarding the future, Miras envisions TrustMe as an international corporation with thousands of employees and offices worldwide. He believes in the Uzbek market, and together with his team, they aim to serve over 1000 companies this year, become the first unicorn from Central Asia, and establish partnerships with 85,000 companies.