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. In this competition, startups from Uzbekistan and Georgia were evaluated based on key criteria such as product innovation, market potential, feasibility, financial model, and team experience. Given the high requirements for participants, it was an honor for us to become the winner and take first place in the competition, as well as to receive an investment offer from Aloqa Ventures worth $50,000.
The Path to Victory
The competition took place under the close scrutiny of a panel of experienced judges:
- Michael Kortenbusch — Managing Director of Business & Finance Consulting, evaluated the business potential and prospects of the projects.
- Davron Parmonov — Managing Partner of Aloqa Ventures, assessed the market value of the startups.
- Stephen Lin — Founder of Swift Launch, helped analyze the market entry strategies of the projects.
- Usmon Rakhimjanov — Senior Specialist at the USAID Business Support Project, focused on the strategic business development of the startups.
- Farrukh Kholmukhamedov — Head of Paynet Mobile, responsible for evaluating the technological and innovative solutions.
Each judge contributed to the thorough selection and objective assessment of the participants.
Why Azma Finance Was Chosen?
Azma Finance was selected as the winner due to 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 development instead of routine administrative tasks. Our solutions help entrepreneurs manage accounts, calculate taxes, and submit reports without stress or time-consuming processes.
The jury especially highlighted:
- Product Innovation — We offer unique tools that minimize manual operations.
- Market Potential — The automation of financial processes is a highly demanded service in the rapidly growing Uzbek market.
- Feasibility — Azma Finance is already actively used by clients, confirming its practicality.
- Financial Model — Our model has proven its stability and viability.
- Team Experience — Our team consists of professionals with experience in finance, IT, and small business support.
Investment Contribution to Further Development
The investment received from Aloqa Ventures, totaling $50,000, will help us expand the capabilities of our platform, improve the user interface, and develop new features that will be beneficial to entrepreneurs. We plan to invest the funds in technology development and talent acquisition to make our platform even more accessible and efficient for small and medium-sized enterprises.
Future Prospects and Plans
This victory is just the beginning of our journey. Azma Finance is determined to continue growing and innovating to assist entrepreneurs with their daily financial tasks. We are confident that the support from Aloqa Ventures and collaboration with key market players will allow us to reach new heights and offer even better and more convenient solutions for businesses in Uzbekistan.
Conclusion
Winning the Fintech Startup Competition has strengthened our position in the market and confirmed the importance of 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, as well as to our clients for their trust and support.
With Azma Finance, entrepreneurs can focus on what matters most — growing their business — while leaving the financial worries to us.