Alif to raise $50 million through Islamic bond sales
Tashkent, Uzbekistan, 19th Nov 2023 – Alif, a leading Fintech has announced plans to raise $50 million through Sukuk issuances. The bond sale will be used to support it’s subsidiary Alif Moliya’s continued expansion into Uzbekistan.
Launched in 2019, Alif Moliya currently facilitates over 35% of POS lending market share in Uzbekistan through Alif Nasiya product (BNPL payment method), and a growing customer base through its e-commerce platform Alif Shop. 2023 was a record-breaking year for Alif Moliya with significant year-on-year growth in both revenue generation and customer acquisition.
The $50 million sale of Islamic bonds follows the successful closure of an $58 million equity and debt funding round led by Alif Capital Holdings’ existing shareholder, Jefferson Capital.
Alif Capital Holdings’ portfolio of fintech companies services over two million customers in both Tajikistan and Uzbekistan and plans to expand into other markets in the Middle East and East Asia.
Khofiz Shakhidi, Chairman and majority shareholder of Alif Capital Holdings Limited, spoke about the success of Alif in combining cutting-edge fintech solutions with ethical banking practices.
“In under a decade, Alif has become one of Central Asia’s leading fintech and ethical banking institutions. Its success comes from a commitment to ethical and customer-centric services backed by investors and shareholders who share the same vision. This latest bond sale will inject the growth capital needed for Alif Moliya to broaden its offering in Uzbekistan and is a new opportunity for investors to become part of Alif’s journey.”
Nuriddin Lafizov, CEO of Alif Uzbekistan, commented: “Since our launch, Uzbekistan has fully embraced our suite of financial services. We can proudly say that Alif is now recognised as one of the market leaders in fintech. We are only at the beginning of this exciting journey and I look forward to working to lead the disruptive revolution of financial services in Uzbekistan.”
As the owner of Jefferson Capital, Khofiz Shakhidi co-invests in a portfolio of private equity and direct lending opportunities worth over $600 million. He works closely with Alif’s C-level executives to manage and implement a consistent and scaling growth strategy, which has been key to the success of the company.
The Sukuk issuance, structured in compliance with Shariah principles, will allow investors to partake in a revenue-sharing model that promises a target return of 12%-14% APR in USD. Jefferson Capital will act as the lead investment advisor and CBH Bank being the lead underwriter.
For more information about Alif Moliya Uzbekistan and the upcoming Sukuk issuance, please contact info@alif.holdings
About Alif Moliya
Alif was founded in 2014 by Abdullo Kurbanov, Firdavs Mirzoev, and Zuhursho Rahmatulloev, offering a suite of fintech banking services specific to the needs of customers in Central Asia. Alif is backed by Jefferson Capital founded by Khofiz Shakhidi and Firdavs Shakhidi. With a full banking license in Tajikistan and a payments license in Uzbekistan, Alif’s services include alif mobi (most widely used mobile wallet in Tajikistan and one of the fastest growing mobile wallets in Uzbekistan), alif salom and alif nasiya (BNPL systems), and alif.shop (an online marketplace).
Established in 2019 in Uzbekistan by Alif, Alif Moliya LLC operates as a trading company with a unique business model. The main activity of the Соmраnу is the sale of merchant goods to соnsumеrs on installment base through the online platform www.alifshop.uz and 2500 offline point of sales all over 14 regions of Uzbekistan. The innovative approach of Alif Moliya is similar to a credit facility but distinguishes itself by ensuring that an item is purchased and resold to the final consumer. This process is facilitated through our cutting-edge software, which has been developed and meticulously serviced by a dedicated team at Alif.
Over less than 5 years, Alif Moliya LLC attracted more than $140 million from international investors from UAE, UK, Swiss, Monaco, and CIS region in funding and issued more than $300 million in installments in Uzbekistan.
About Jefferson Capital
Jefferson Capital is a UK based investment banking firm that serves professional and institutional clients authorised and regulated by the FCA.
Jefferson Capital provides comprehensive, tailored solutions, including wealth structuring and asset protection, investment advisory, asset financing, corporate services and private equity deal arrangements.
Media Contact
Organization: Alif Moliya LLC
Contact Person: Nuriddin Lafizov
Website: https://www.alif.uz/
Email: Send Email
City: Tashkent
Country: Uzbekistan
Release Id: 1911237803
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