Founded in 2014, Alif has grown into one of the leading fintech companies in Central Asia, and is now growing beyond. Alif offers an ecosystem of in-house developed financial and technological solutions: the most widely used finance app alif mobi, popular Point-of-sales financing payment system, the largest online retail platform alif shop and a cheap, fast and safe remittance system.
We are committed to Shariah-compliance across our products and processes. We do not market our values, we simply make them clear to investors and other stakeholders.
run-rate revenue October 2022
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Launched alif mobi, alifshop.uz and alif merchant apps in Uzbekistan.
Migrated to Alif’s Core Banking System 2, fully written in-house over the last 3 years with a new architecture and scalability.
Increased authorized capital of the company to 33.96 million somoni.
Launched the early version of Alif’s first ML scoring system in Uzbekistan.
Received a valuation of $100 million, by raising $8 million in equity and $50 million in debt.
Introduced the multicurrency Alif Visa Gold, Platinum and Infinite cards with the option of installments, remittances and full control in alif mobi.
Moved the infrastructure of alif mobi to the cloud architecture and developed a new multilingual version of the app from scratch with expanded features, uninterrupted operations for hundreds of thousands of users, the option to manage installments, Visa cards and personalization.
Signed a funding agreement with the Refinancing Fund to increase public access to financial services and strengthen the microfinance sector in Tajikistan.
Reached 500 000 active users of alif mobi app.
Attracted $10 million from a fintech sector of IFC and Private Equity company to increase access to digital financial services for the wider population.
Signed strategic cooperation agreement with IFC aiming to promote financial inclusion in Tajikistan.
Launched alif business for corporate clients and private entrepreneurs.
Received e-money and payment license in Uzbekistan.
Signed corporate governance improvement agreement with IFC.
Signed strategic partnership agreement with Visa to strengthen the development of cashless payment in Tajikistan.
CBH Bank (Compagnie Bancaire Helvétique SA) — a Swiss private Bank became shareholder of Alif.
Obtained banking license from NBT under the #0000114 and were renamed to Alif Bank.
Alif Tech received the status of an IT Park resident in Uzbekistan.
Raised additional funds from Khofiz Shakhidi, a successful Tajik businessman in Monaco. As a result of the deal, he became the owner of a 25% stake and Chairman of the Board. The attracted funds allowed us to apply for a full banking license.
Opened a free education center
Alif Tech LLC as a software developer and Alif Moliya LLC as a financing/trading company were registered in Uzbekistan to provide technical support and POS financing.
Developed a website with a personal account where clients can keep track of all the transactions and services they use.
Introduced Salom club cards to help people shop online and offline with little effort. To support cards, we also developed special software that turns regular smartphones into POS terminals, that are used by merchants to process Salom transactions.
Introduced Nasia, an overdraft card with installments up to 10 days.
Launched international remittance services through the alif mobi app.
Launched alif mobi — the first mobile wallet in Tajikistan. Today, it is the largest and most widely used mobile wallet among the population.
Launched alif pay — the first online payment platform in Tajikistan for the local services by Korti milli card. The system used by Alif was later widely adopted by other banks, ushering in a period of rapid fintech development in the country.
Launched the free programming courses.
Launched alif shop — the first online store in Tajikistan with the option to purchase consumer goods in installments. Later, it grew to become the largest online B2C marketplace in the country.
Joined the national processing center and started issuing Korti milli cards.
Launched an in-house Core Banking System software. Core Banking Systems are highly sophisticated banking software that banks typically purchase from major international vendors. Alif took a significant step towards becoming a fintech company by writing and launching its own Core Banking System, which allows to be self-sufficient, fast and flexible.
Opened the first deposit account.
Obtained a license from NBT to operate a microcredit and depository organization. Since then, Alif has the right to attract deposits, conduct foreign and domestic exchange transactions and offer a wider range of financial products.
Established Befoiz product (commission-free) and began to provide installments.
Started to develop an in-house customer relationship management software and launched it in early 2016.
Receiving loan (investment) for the first time.
We obtained a license from the NBT to operate as a microcredit organization and issued the first SME loan.
Over 260 000 POS lending users and 90% market share in Tajikistan.
Developing the IT sector and reducing brain drain from the country. Over 2000 programmers trained for free.
Over 30% of POS lending market share in 14 regions of Uzbekistan.
Over 60% of the Visa payments market in Tajikistan.
Enabling sharia complaint micro finance for UAE expat communities to remit money to their home countries and pay later in short flexible terms
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Emerging Europe Talks People. Financial literacy in Tajikistan and Uzbekistan with Zuhursho Rahmatulloev
How a Tajikistan fintech company created its own ecosystem, opened an IT academy, and attracted $10 million in equity investment (article is in Russian)
Alif subsidiary began to cooperate with the Ministry of Public Education of Uzbekistan (article is in Russian)
Alif is a talent magnet: you can work here whenever you want and whoever you want (article is in Russian)
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