Solva raised $27 million to support entrepreneurs in Kazakhstan

FinTech company Solva announced the raising of $27 million from international development funds to strengthen financing for micro and small businesses in Kazakhstan.

In October and November 2024, Solva signed agreements with BlueOrchard, Enabling Qapital, responsAbility, and Incofin. These investments were provided in tenge and directed toward supporting local entrepreneurs.

The total amount of funds raised by Solva in 2024 reached $36 million, and the company's microcredit portfolio exceeded 66 billion tenge, representing a 31% increase compared to the beginning of the year.

To secure the investments, Solva underwent an extensive due diligence process, during which international funds confirmed the sustainability of its business model and its alignment with socially responsible investing principles.

The largest portion of the funds came from BlueOrchard, a global socially focused fund that manages assets for the Schroders group. Since its founding in 2001, BlueOrchard has invested over $11 billion in 100 countries, supporting millions of people in emerging markets.

The successful fundraising confirms Solva's reliability and its readiness for further development in the field of business financing in Kazakhstan.