Alif has successfully raised $20 million in debt investment from Accial Capital, a US-based impact-focused private credit fund manager. The deal, facilitated by advisory support from Nairang Capital and TMT Global Advisors, marks a significant milestone for the company.
This funding will enhance Alif’s Nasiya service, solidify its market leadership, and drive financial inclusion across Uzbekistan. Through Nasiya, Alif enables consumers to purchase goods and services in installments, adhering strictly to Islamic finance principles. The investment reinforces Alif’s dedication to ethical financial practices and Shariah compliance.
Nuriddin Lafizov, CEO of Alif in Uzbekistan, expressed his enthusiasm for the partnership:
“Collaborating with Accial Capital is a pivotal step in advancing financial inclusion for our users. Their shared commitment to social responsibility and ethical finance aligns perfectly with our mission. This partnership will help us scale our solutions and contribute to a sustainable and inclusive financial ecosystem.”
Deborah de Rooij, Chief Investment Officer at Accial Capital, praised Alif’s approach:
“We are excited to partner with Alif in expanding financial health across Uzbekistan. By helping customers access essential goods, Alif improves lives while maintaining responsible lending practices. Their talented and diverse team exemplifies the values we prioritize at Accial Capital, and we look forward to supporting their continued growth and success.”
With this latest investment, Alif has raised approximately $50 million in 2024 from international investors for its operations in Uzbekistan. Since entering the Uzbek market, Alif has secured over $150 million in equity and debt investments, reflecting its robust growth and the trust of global investors in its role in Central Asia’s financial development.
About Accial Capital
Accial Capital is committed to advancing financial inclusion globally. Their vision focuses on fostering financial resilience and providing opportunities for lower and middle-income borrowers worldwide.
About Alif
Founded in 2014 by Abdullo Kurbanov, Firdavs Mirzoev, and Zuhursho Rahmatulloev, Alif is a leading fintech company operating in Uzbekistan, Tajikistan, and Pakistan. Valued at $100 million in 2021, Alif has raised significant equity and debt investments, including $58 million in its Series A round.
Alif’s super-app in Uzbekistan offers diverse features, including transfers, payments, public transport fares, government services, and a marketplace. The Nasiya installment service stands out, enabling over 1 million unique users to shop at over 5,000 points of sale, with flexible payment terms of up to 24 months.
