Roehl Niño Bautista · · 1 min readQuest Ventures leads Uzbekistan SaaS firm’s $650k raise
Uzbekistan-based Billz, a retail business management software, has raised US$650,000 in a funding round led by Quest Ventures. Sturgeon Capital also returned after making a US$150,000 investment in an earlier round.
This will fund the firm’s expansion plans within the Commonwealth of Independent States as it grows its development team and marketing efforts.
Billz team / Photo credit: Billz
Billz provides point of sale, inventory management, customer relationship management, ecommerce, and analytics services with SMEs as its target users. It also links to social media platforms’ marketplaces.
Ecommerce in Uzbekistan is considered to be in its early stages. The platform aims to address digital pain points for business growth within developing countries, saying that unstable data connection, unmanaged processes, lack of digital education, and low access to financial services have been the main blockers.
Billz was founded in 2017 by Rustam Khamdamov, Jakhongir Narzullaev, and Vadim Zakharyan. The company said that it has 800 retail locations across Uzbekistan, Kazakhstan, Kyrgyzstan, and Tajikistan.
See also: Series SEA: Who’s investing in the region’s SaaS startups?
Editing by Miguel Cordon and Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
