Kazakhstan fintech Solva raises USD 20 million in bid to become a bank


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Leading Central Asian fintech company Solva, with its headquarters located in Almaty, Kazakhstan, announced a USD 20 million equity investment with Sawiris family- and ZCP-backed Neo Crystal Holdings Limited.

With the infusion of capital, Solva will be able to expand the reach of its digital financial products to millions of micro, small, and medium-sized businesses (“MSMEs”) and create more jobs in the area. Part of the funds will be used by Solva to support its continuous transition, which is anticipated to be completed in 2024, from a microfinance organization into a fully licensed bank with a focus on SME financing.

The company’s plans to expand regionally, aimed at introducing Solva’s inclusive finance principles and credit scoring platform to Central Asia, will also be expedited by the equity investment.

Read More: Kazakhstan fintech Solva raises $20 million in bid to become a bank

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.


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