Alif, a prominent FinTech company operating in Central Asia, has secured a $20m debt investment from Accial Capital, a US-based impact private credit fund manager.
The funding was facilitated with the advisory support of Nairang Capital and TMT Global Advisors.
The new funds will be directed towards enhancing Alif’s Nasiya service, a Shariah-compliant retail finance solution for goods and services in Uzbekistan, strengthening its market position, and promoting financial inclusion in the region.
Established in 2014, Alif is recognised for its innovative financial solutions in Uzbekistan, Tajikistan, and Pakistan. The company’s super-app combines features such as transfers, payments, public transport fares, government services, and a marketplace. Its flagship Nasiya service allows consumers to shop in installments with no down payment, offering terms of up to 24 months.
Nuriddin Lafizov, CEO of Alif, expressed enthusiasm about the collaboration, stating, “Partnering with Accial Capital is a great step toward enhancing financial inclusion for our users. Accial Capital shares our values of social responsibility and ethical finance. We are confident that this partnership will help us scale our solutions and contribute to developing a sustainable and accessible financial sector.”
Deborah de Rooij, chief investment officer at Accial Capital, commented, “We are proud to partner with Alif to expand financial health in Uzbekistan, helping customers access essential goods that improve their quality of life. Alif’s proven track record of fostering responsible lending aligns perfectly with Accial Capital’s mission to support widespread financial health and inclusion.
“We were impressed by the talent and diversity of Alif’s team in Uzbekistan, and we look forward to supporting the company’s ongoing growth and success.”
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