Tashkent, Uzbekistan (UzDaily.com) — TBC Bank Group (TBC PLC), operator of the largest financial ecosystems in Georgia and a leading digital banking platform in Uzbekistan, listed on the London Stock Exchange, has announced the acquisition of a controlling stake in OLX Uzbekistan (“OLX UZ”), the country’s leading online classifieds platform. The seller is OLX Group, part of Prosus.

The transaction with Prosus, one of the world’s largest technology investors, will enable TBC Uzbekistan to reach new audience segments through OLX UZ, currently the sixth most-visited website in Uzbekistan. The platform has 5.4 million monthly active users and hosts more than 2.2 million live listings. OLX facilitates trade in goods, services, cars, and real estate, covering more than 20% of Uzbekistan’s active internet audience. This deal marks one of the largest mergers and acquisitions in the country’s technology sector in the past three decades.

To complete the acquisition, TBC Bank Group has established a joint venture with Titan Investments, an international investment holding that partners with leading institutional investors, family offices, and sovereign wealth funds from the Middle East. The joint venture will acquire 100% of OLX Uzbekistan: TBC Bank Group will hold 50% plus one share, while Titan Investments will take the remaining stake. The deal is expected to close after obtaining all necessary regulatory approvals. OLX Uzbekistan will retain its brand but will eventually be integrated into the TBC Uzbekistan ecosystem.

The joint venture combines TBC’s expertise in digital banking with Titan’s experience in scaling fast-growing online platforms. Access to Titan’s knowledge and investment practices will enable TBC to focus on integrating banking products into OLX and developing new digital solutions for users.

The acquisition fully aligns with TBC Group’s profitable growth strategy and creates opportunities for synergies with TBC Uzbekistan, whose ecosystem encompasses 21 million unique registered users and is the largest digital banking platform in Central Asia. In June of this year, TBC Bank Group also acquired a controlling stake in BILLZ, a SaaS platform for retail automation, expanding its product portfolio and strengthening its market position in Uzbekistan.

Nika Kurdiani, CEO of TBC Uzbekistan, highlighted that the company’s ecosystem already brings together more than half of Uzbekistan’s population and continues to grow dynamically, offering convenient solutions for both financial and everyday needs. He described the acquisition of OLX Uzbekistan as a logical step in the strategy of expansion and diversification: “We are attracting new customers, entering additional segments, and increasing user engagement. The combination of our technologies with OLX’s broad user base will accelerate the development of cutting-edge digital banking solutions. We highly value our partnership with Titan Investments and are confident that their expertise in scaling online services will ensure even faster growth for the platform.”

TBC Uzbekistan is managed by TBC Digital, co-owned by TBC Bank Group (80%), the European Bank for Reconstruction and Development (10%), and the International Finance Corporation (10%). TBC Capital served as the exclusive financial advisor for the transaction.