Azma Finance Wins at the Fintech Startup Competition

Recently, Azma Finance participated in the Fintech Startup Competition, held as part of the FinTech and Banking Forum organized by the Fintech Association of Uzbekistan in collaboration with Axioma School. This competition brought together startups from Uzbekistan and Georgia, evaluated on key criteria such as product innovation, market potential, feasibility, financial model, and team expertise. With the high standards set for participants, it was an honor for us to be named the winner and awarded first place, along with an investment opportunity from Aloqa Ventures totaling $50,000 USD.

The competition was rigorously judged by a panel of seasoned experts, including:

• Michael Kortenbusch — Managing Director of Business & Finance Consulting, who evaluated the business potential and growth prospects of each project.
• Davron Parmonov — Managing Partner of Aloqa Ventures, assessing the market value of the startups.
• Stephen Lin — Founder of Swift Launch, focusing on each project’s go-to-market strategy.
• Usmon Rakhimjanov — Senior Expert at the USAID Business Support Project, providing insights into strategic business development.
• Farrukh Kholmukhamedov — Head of Paynet Mobile, analyzing the technological and innovative aspects of each solution.

Each judge brought their unique expertise to ensure a thorough and unbiased evaluation of all participants.

Azma Finance was selected as the winner for our commitment to automating complex accounting, tax management, and reporting processes for small businesses in Uzbekistan. Our fintech platform simplifies financial management for entrepreneurs, allowing them to focus on business growth rather than administrative tasks. We aim to help entrepreneurs with accounting, tax calculations, and reporting, all without the stress of manual and time-consuming processes.

The judges particularly noted:

• Product Innovation — our platform provides unique tools that minimize manual tasks.
• Market Potential — automation of financial processes is highly relevant and in demand in the fast-growing market of Uzbekistan.
• Feasibility — Azma Finance is already actively used by clients, proving its practicality.
• Financial Model — our model has demonstrated resilience and viability.
• Team Expertise — our team brings a wealth of experience in finance, IT, and small business support.

The $50,000 USD investment from Aloqa Ventures will enable us to enhance our platform, improve the user interface, and develop new features that add value for entrepreneurs. We plan to invest in advancing our technology and attracting talented individuals to make our platform even more accessible and effective for small and medium-sized businesses.

This victory marks just the beginning of our journey. Azma Finance is committed to continuous improvement and innovation to support entrepreneurs in their daily financial tasks. With the support of Aloqa Ventures and partnerships with key market players, we are poised to reach new heights and deliver even more high-quality, user-friendly solutions for businesses in Uzbekistan.

Winning the Fintech Startup Competition has strengthened our position in the market and reaffirmed our mission to make financial management simpler and more accessible for small businesses. We are grateful to the organizers, partners, and judges for recognizing our efforts, and to our clients for their trust and support.