What Solva does

Solva (legal entity: JSC "MFO OnlineKazFinance" / АО «МФО ОнлайнКазФинанс») is a Kazakhstan-based, privately held microfinance organization licensed by the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market (AFRFRM) under License No. 02.21.0004.M dated 06.03.2023. Founded in 2017 (firmographics data states 2016) and headquartered in Almaty, the company operates a digital-first microfinance platform targeting two primary segments in Kazakhstan: individual retail borrowers and micro, small, and medium enterprises (MSMEs), with a particularly strong focus on women entrepreneurs, who constitute over 70% of its MSB microcredit portfolio. According to the input data, Solva has cumulatively issued approximately $145 million in microloans to more than 50,000 small businesses since founding.

The product portfolio spans consumer microcredits (Light Card, Online Microcredit up to 4,000,000 tenge) and SME lending instruments (IP Microcredit up to 6,000,000 tenge, Vehicle-Secured Microcredit up to 20,000,000 tenge, Self-Employed Microcredit, settlement accounts, BNPL via METRO, and factoring). Supporting products include the 'Zhenskoe Delo' (Women's Business) platform, green financing for SMBs, and a Financial Literacy School. Distribution is hybrid: a self-serve website (solva.kz) and native iOS/Android apps are complemented by a branch/service-point network and repayment integrations with Kaspi.kz, Halyk, Bank CenterCredit, QIWI, KASSA 24, PAYDALA, and YURTA. In June 2023, Solva issued Kazakhstan's first corporate gender bonds (20 billion KZT), and in January 2024 closed a $20 million funding round (Sawiris family, Zoser Capital Partners, Egyptian Orascom Group) to fund its conversion from MFO into a fully licensed SME-focused bank, with stated ambitions to expand across Central Asia.

Solva monetizes primarily through interest and fees on its microcredit book, supplemented by subscription-style card fees (Light Card with cashback/bonuses), factoring margins, and BNPL commission. The company employs 501–1,000 people and holds multiple 2023 awards (Visa, KASE ESG Bond Market Leader, Cbonds, PLUS, Digital Almaty FinTech of the Year). It is also a member of 2X Global, the UN Global Compact, and AMFOK, and is carbon-neutral across scopes 1–3.

Name

Solva

Legal name

АО «МФО ОнлайнКазФинанс»

Website

https://solva.kz

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Solva is a Kazakhstan-licensed microfinance organization (JSC MFO OnlineKazFinance) that provides digital-first microcredit, credit cards, and SME banking products to individuals and MSMEs, with a focus on women entrepreneurs, and is converting into a fully licensed SME-focused bank.

Ownership category

akta.pro rank

Product category

Consumer Microfinance

NAICS

Sales Financing (52222)

SIC

Short-Term Business Credit Institutions (6153), Personal Credit Institutions (6141)

akta.pro primary industry

SME Lending Platforms & Embedded SME Credit (FSAKAGAJ)

akta.pro secondary industries

Microloans & Working Capital Loans (FSAKAGAA), SME Credit Underwriting, Scoring & Risk Analytics (FSAKAGAL)

Keywords

• Online microcredit
• Consumer lending
• Credit card services
• SME microfinance
• BNPL factoring

Headquarters

HQ city

Almaly

HQ country

Kazakhstan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Microcredit lending: Solva generates revenue primarily through interest and fees on microcredits issued to individuals and small businesses in Kazakhstan. Loans range up to 6,000,000 tenge for business borrowers and 4,000,000 tenge for individuals, with the company operating as a licensed microfinance organization regulated by the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market (AFRFRM).

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Solva is a Kazakhstan-based online microfinance organization that issues short- and medium-term microcredits to individuals and individual entrepreneurs (IPs), offers a Light installment credit card, and provides SME banking products including settlement accounts, BNPL at retail point of sale, and factoring. The entire origination, underwriting, and servicing flow is delivered through proprietary mobile apps and a web portal, with automated credit scoring and e-KYC enabling rapid disbursement.

Product overview

Solva is a Kazakhstan-based fintech company operating as a microfinance organization (MFO) licensed by the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market (ARFRF). The company offers a unified financial services platform primarily focused on microcrediting and is transitioning toward becoming a full-fledged SME-focused bank. The product portfolio includes consumer microcredits (Light Card, Online Microcredit), business lending products (IP Microcredit, Vehicle Secured Microcredit, Self-Employed Microcredit), and banking services (Settlement Account, BNPL, Factoring). Supporting offerings include the Women's Business Platform for inclusive entrepreneurship support, Green Finance products for sustainable businesses, and a Financial Literacy School. The company operates mobile apps for iOS and Android.

Differentiator

Problem solved

Functional benefit

Brands

• Женское дело (Women's Business): A multifunctional platform created to foster an enabling environment for women's entrepreneurship development and improve financial literacy in Kazakhstan.

Products and services

• Online Microcredit (Онлайн-микрокредит) Short-term unsecured personal microcredit of up to 4 million KZT, originated entirely online through the Solva mobile app and website for individual consumers in Kazakhstan.
• Light Card (Карта Лайт) Revolving installment credit card for individual consumers in Kazakhstan, providing a credit line that can be drawn for purchases and repaid in installments via the Solva app.
• IP Microcredit (Микрокредит для ИП) Unsecured business microcredit of up to 6 million KZT for individual entrepreneurs (IPs) in Kazakhstan, applied for and serviced through Solva's SME channel.
• Vehicle Secured Microcredit (Микрокредит под залог авто) Microcredit of up to 20 million KZT secured by a vehicle, offered to individual consumers and small business owners in Kazakhstan who need larger sums against collateral.
• Self-Employed Microcredit (Микрокредит для самозанятых) Microcredit product designed for self-employed individuals in Kazakhstan without formal employer income, providing access to short-term financing through the Solva platform.
• Settlement Account for Business (Расчётный счёт для бизнеса) SME banking settlement account for individual entrepreneurs and small businesses in Kazakhstan, supporting day-to-day business payments and cash management.
• BNPL (Buy Now Pay Later) Buy Now Pay Later installment financing offered at retail point of sale, allowing consumers to split purchases into installments while merchants receive full payment from Solva.
• Factoring Receivables factoring service for small businesses and individual entrepreneurs in Kazakhstan, providing working capital by purchasing their trade receivables.
• Green Finance (Зелёные финансы) Dedicated microcredit and financing product line targeting environmentally friendly projects, energy-efficient assets, and green initiatives for consumers and SMEs in Kazakhstan.

Quantifiable outcome

• Over 50,000 small businesses received approximately $145 million in microloans since founding in 2017.
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Partnerships

Eleven partnerships are on record, tiered minor and core.

• Bank CenterCreditminorChannel Partner/ Reseller/ DistributorSolva customers can make loan repayments without commission through the Bank CenterCredit mobile app and terminals.
• Halyk BankminorChannel Partner/ Reseller/ DistributorSolva customers can make commission-free loan repayments through the Halyk mobile app (for legal entity clients).
• PAY DALAminorChannel Partner/ Reseller/ DistributorPAY DALA terminal network enables commission-free loan repayments for Solva customers.
• KASSA 24minorChannel Partner/ Reseller/ DistributorKASSA 24 terminals and personal cash desks provide commission-based loan repayment options for Solva customers.
• QIWIminorChannel Partner/ Reseller/ DistributorQIWI terminals and wallet enable loan repayments for Solva customers with applicable commission fees.
• Kaspi.kzminorChannel Partner/ Reseller/ DistributorSolva loan repayments available through the Kaspi.kz application with applicable commission.
• YURTA (U-Station)minorChannel Partner/ Reseller/ DistributorYURTA terminals provide commission-free loan repayment options for Solva customers.
• Nomad Life InsuranceminorOthersNomad Life is a partner for voluntary insurance products promoted on Solva's payment page.
• 2X GlobalcoreStrategic or Co-development PartnerSolva is the first company in Kazakhstan to join the global 2X Global initiative, which unites financial market participants in gender-oriented capital allocation. This membership supports the company's gender bond issuance and inclusive financing mission.
• United Nations Global CompactcoreStrategic or Co-development PartnerSolva is a participant of the UN Global Compact in the area of corporate social responsibility and sustainable development, committing to the ten principles of the UN Global Compact in human rights, labor, environment, and anti-corruption.
• Association of Microfinance Organizations of Kazakhstan (AMFOK)minorOthersSolva is an active member of the Association of Microfinance Organizations of Kazakhstan (AMFOK), the industry self-regulatory body for MFOs in the country.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Kaspi.kz: Kazakhstan's dominant fintech super-app, offering payments, marketplace, and consumer/SME financial services including lending. It is the central distribution and competitive reference point for Solva, controlling the dominant payment rail that Solva's customers use for repayments while competing head-on in SME lending.
• Halyk Bank: One of Kazakhstan's largest universal banks, offering retail and SME banking, payments, and credit products. It is comparable to Solva as a broad financial-services incumbent competing for the same SME and retail segments, and is also a payment-distribution partner.
• Bank CenterCredit: Major Kazakhstani universal bank providing retail, SME, and corporate banking. Comparable to Solva in its SME and consumer lending offerings, and serves as a payment-distribution partner for Solva's loan repayments.
• ForteBank: Top-tier Kazakhstani universal bank with strong retail and SME franchise, including digital services. Comparable to Solva in its SME lending and consumer credit offerings, and represents a key competitor for the same target customers.

Regional players

• Freedom Holding / Freedom Finance: Regional financial-services group with significant operations across Central Asia, including Kazakhstan, offering banking, brokerage, insurance, and fintech products. Comparable to Solva in addressing Central Asian SMEs and consumers with diversified financial services.

Emerging players

• Tala: Global digital lender focused on underbanked consumers and small businesses in emerging markets (Mexico, India, Philippines, Kenya). Comparable to Solva in its mission of providing credit to underserved borrowers via a mobile-first underwriting approach.
• Branch International: Mobile lending platform serving underbanked workers and small businesses across Africa, India, and other emerging markets. Comparable to Solva in its data-driven microcredit model and target segment of unbanked/underbanked borrowers.
• Lulalend: South African digital lender providing working-capital loans to small and medium businesses. Comparable to Solva as an emerging-market SME-focused digital lender targeting underserved borrowers with quick online credit decisions.
• Jumo: African and emerging-markets digital financial services platform offering credit, savings, and insurance to underbanked consumers and SMEs. Comparable to Solva in leveraging mobile and data analytics to serve unbanked borrowers and small businesses.

Others

• Kiva: Global non-profit microfinance platform facilitating crowdfunded loans to underserved entrepreneurs. Comparable to Solva in its focus on financial inclusion and microenterprise lending, though operating via a marketplace rather than direct balance-sheet lending.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/solva.kz
• LinkedInlinkedin.com/company/solvaglobal
• Instagraminstagram.com/solva_app

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Solva