TBC Bank Group (TBC PLC) has announced that it has acquired a majority stake in BILLZ, a Uzbekistan-based retail management SaaS platform, to further improve its offering for SMEs in the region.
At the time of writing, the deal was still subject to standard regulatory approvals and aimed to support Uzbekistan’s evolving tech sector. The move is set to see TBC Uzbekistan, the group’s digital banking ecosystem operating in Central Asia, team up with BILLZ and integrate the platform into its ecosystem.
As an all-in-one retail management SaaS platform for SMEs, BILLZ merges POS, inventory, CRM, ecommerce, and analytics to simplify operations and increase sales. Currently, the company supports approximately 4,000 retail businesses across Uzbekistan.
TBC Bank Group’s acquisition of BILLZ
TBC Bank Group agreed to acquire a majority stake in BILLZ for up to USD 12 million, which includes an initial 53% stake for USD 9 million. By 2027, the financial institution plans to scale the stake to 60%, providing BILZZ with a post-money valuation of USD 20 million.
The collaboration and planned investment are set to support the development of both BILLZ and TBC Uzbekistan. As part of the deal, BILLZ will continue to operate under its own brand, however, it will be fully integrated into the TBC Uzbekistan ecosystem. When it comes to the management and the wider team of the company, they will remain with BILLZ, continuing to lead its product development and execution. According to the official press release, TBC Bank Group entered into a put/call arrangement for the remaining 40% of BILLZ, which can be implemented 36 months following the completion of this deal.
Furthermore, the agreement seeks to advance customer acquisition and revenue growth for TBC Uzbekistan, which includes Payme, a digital payments app for individuals and businesses, Payme Nasiya (Payme Instalments), and TBC Bank Uzbekistan (TBC UZ), as well as BILLZ. With BILLZ, TBC Uzbekistan is set to also grow its reach into the SME segment, offering access to business customers and creating additional synergies within the ecosystem. In turn, BILZZ users will benefit from the banking and lending products delivered by TBC UZ, Payme’s suite of digital payment services, and other products within the TBC Uzbekistan ecosystem.
